LondonMetric Property Plc (LMP) Fair Value & Analysis
Real Estate · GB · Market cap 4.4B GBX · ISIN GB00B4WFW713
What is LondonMetric Property Plc really worth?
Below-average quality, and trading another 35% above our fair value of £1.37.
Strengths
Risks
For context
Fair value as of: Aug 25, 2026
From 16 valuation models · updated 11 days ago
Share price −6.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (£0.8925 to £2.18) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.
How to read this chart
60‑month range £1.30 – £2.22 · fair‑value band £0.8925 – £2.18 · the £1.85 price screens above the £1.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 25, 2026.
Analysis
LondonMetric Property Plc (LMP) currently trades at £1.85, while our model-based Fair Value estimate is £1.37, implying the stock looks roughly 34.8% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of £1.86 per share, and 5 of the 16 models we run sit above the £1.85 price. Bear case: the Growth DCF group reads lowest at £1.24, and 11 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, LondonMetric Property Plc generated revenue of £469M at a net margin of 63.0%. Revenue grew 18.0% year over year. It earns a return on equity of 6.7%. Net debt stands at £2.8B. Fundamentals as of Aug 25, 2026
Our scenario range runs from £0.8925 (bear case) to £2.18 (bull case); at £1.85, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Real Estate peers we cover trades at −43% fair-value upside, at −26%, LMP screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly £0.0024 per share, which is 0.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: Multiples (£1.86) versus Growth DCF (£1.24). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 53
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
LondonMetric Property Plc is the UK's leading triple net lease REIT with a 7 billion pounds portfolio. It is aligned to structurally supported sectors of logistics, healthcare, convenience, entertainment and leisure.
Full company description
LondonMetric Property Plc is the UK's leading triple net lease REIT with a 7 billion pounds portfolio. It is aligned to structurally supported sectors of logistics, healthcare, convenience, entertainment and leisure. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term. LondonMetric Property Plc was established on October 01, 2007 and incorporated in 2007 in United Kingdom.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
LondonMetric Property Plc reported revenue of £465M in FY2026 versus £133M in FY2022, a compound +36.7%/yr. Reported net income was £296M in FY2026, compounding −20.3%/yr from FY2022.
of which total revenue +18.4 % · buybacks/dilution −11.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
LMP screens 35% overvalued. Compare with Prologis, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Form 8.3 - LondonMetric Property Plc & Schroder Real Estate Investment Trust Limited
- Dimensional Fund Advisors Ltd. : Form 8.3 - Consortium comprising LondonMetric Property plc and Schroder Real Estate Investment Trust Limite
- Form 8.3 - LondonMetric Property Plc & Schroder Real Estate Investment Trust Limited
- Form 8.3 - LondonMetric Property Plc
Peer Group
REIT - Industrial · 56 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Industrial median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Aug 25, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $140.70 | $61.28 | −56% |
| Public Storage, a member of the S&P 500, PSA | $311.20 | $162.43 | −48% |
| Extra Space Storage Inc EXR | $140.12 | $78.38 | −44% |
| EastGroup Properties, Inc EGP | $198.47 | $81.41 | −59% |
| Lineage, Inc LINE | $39.32 | $47.91 | +22% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.44 SGD | 2.00 SGD | −18% |
| CubeSmart CUBE | $39.73 | $25.06 | −37% |
| First Industrial Realty Trust, Inc FR | $62.39 | $20.72 | −67% |
| Rexford Industrial Realty, Inc REXR | $36.39 | $20.69 | −43% |
| STAG Industrial, Inc STAG | $37.18 | $21.64 | −42% |
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