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Share Price: 204.40

Bid: 204.40

Ask: 204.80

Change: 5.80 (2.92%)

Spread: 0.40 (0.196%)

Open: 202.80

High: 205.00

Low: 198.90

Prev. Close: 198.60

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IN BRIEF: LXi REIT shareholders back LondonMetric tie-up

Tue, 27th Feb 2024 21:10

LXi REIT PLC - London-based commercial real estate investment trust - All share merger with LondonMetric Property PLC approved at court and general meetings. Just under 100% vote in favour at general meeting and just 95% at court meeting. The merger will see LondonMetric takeover LXi REIT, whose shareholders will receive 0.55 of a new LondonMetric share for each LXi REIT share that they own. LondonMetric shareholders will own 54% of the enlarged company and LXi holders the remaining 46%. The merger will create a combined company with EPRA net tangible assets of GBP4.1 billion, which the pair last month said will make it the fourth-largest UK REIT.

Current stock price: 101.80 pence

12-month change: down 10%

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

More News

7 Jul 2020 10:13

Liberum raises target price on LondonMetric

(Sharecast News) - Analysts at Liberum raised their target price on British property company LondonMetric from 180.0p to 210.0p on Tuesday, stating the group's valuation was supported by a 4.0% dividend yield.

2 Jul 2020 07:24

LondonMetric to raise dividend after 'strong' rent collection

(Sharecast News) - LondonMetric Property said on Thursday that 95% of advance rental payments due up to 24 June had been collected, or was being collected monthly.

25 Jun 2020 08:09

LondonMetric makes two new property acquisitions

(Sharecast News) - LondonMetric Property announced two acquisitions for a total consideration of £72.9m on Thursday, with both transactions having previously been identified by the company at the time of its recent equity placing.

16 Jun 2020 14:32

Tuesday broker round-up

(Sharecast News) - Big Yellow: Berenberg downgrades to hold with a target price of 1,050p.

10 Jun 2020 07:03

LondonMetric pays Q4 dividend, eyes rise in online food shopping

(Sharecast News) - Property manager LondonMetric paid a fourth quarter dividend as looked to cash in on the rise in online shopping during the coronavirus lockdown.

3 Jun 2020 09:12

Londonmetric acquires two long income assets

(Sharecast News) - Real estate investment trust Londonmetric acquired two long income assets on Wednesday for a total of £11.6m, reflecting a blended net initial yield of 5.1%.

5 May 2020 13:27

Tuesday broker round-up

(Sharecast News) - Stagecoach Group: Canaccord upgrades to buy with a target price of 110p.

5 May 2020 08:52

Londonmetric looks to raise ?100m, nudges dividend higher

(Sharecast News) - Real estate investment trust Londonmetric announced plans to raise up ?100m of fresh equity in order to capitalise on opportunities presented to it as a result of the Covid-19 pandemic.

2 Apr 2020 08:14

LondonMetric 2020 earnings seen in line with expectations

(Sharecast News) - Property company LondonMetric said on Thursday that its 2020 EPRA earnings are set to be in line with expectations and the third-quarter dividend will be paid as planned, adding that it was still too early to assess the impact of the Covid-19 outbreak.

13 Jan 2020 07:39

LondonMetric sells Worcester property for ?6.2m

(Sharecast News) - LondonMetric Property said it had sold an office park in Worcester for £6.2m, reflecting a net initial yield of 6.7%.

20 Dec 2019 07:12

LondonMetric cuts warehouse exposure with ?145m sell-off

(Sharecast News) - LondonMetric Property said it had sold two mega box and two regional distribution warehouses, in three deals, for a combined £145.3m as it moved to cut its exposure to lower income growth assets.

29 Nov 2019 15:48

Director dealings: Londonmetric chairman lowers stake

(Sharecast News) - Londonmetric Property revealed on Friday that chairman Patrick Vaughan had sold 400,000 ordinary shares in the FTSE 250-listed real estate investment trust.

27 Nov 2019 08:03

LondonMetric rental income rises as it integrates Mucklow acquisition

(Sharecast News) - LondonMetric announced its half-year results for the six months ended 30 September on Wednesday, reporting that its continued focus on income growth saw its net rental income rise 16.6% to £54.9m, including three months of income from the Mucklow acquisition.

14 Oct 2019 08:09

LondonMetric Property Sells Office And Warehouse For GBP12 Million

14 Oct 2019 07:13

LondonMetric sells two properties for ?11.6m

(Sharecast News) - LondonMetric on Monday said it had sold two properties for a total of £11.6m, with both sales representing material premiums to the properties' book value.

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IN BRIEF: LXi REIT shareholders back LondonMetric tie-up

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