LondonMetric Property Plc (LMP) Fair Value & Analysis
Real Estate · GB · Market cap 4.4B GBX
Fair value as of: Jul 16, 2026
From 16 valuation models · updated 25 days ago
Share price +5.1% over the past month.
Below-average quality, and screening another 25% overvalued on our models.
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 Jul 16, 2026.
How to read this chart
60‑month range £1.25 – £2.14 · fair‑value band £0.8925 – £2.18 · the £1.89 price screens above the £1.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
LondonMetric Property Plc (LMP) currently trades at £1.89, while our model-based Fair Value estimate is £1.41, implying the stock looks roughly 25.1% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: 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 Jul 16, 2026
Our scenario range runs from £0.8925 (bear case) to £2.18 (bull case); at £1.89, 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 -45% fair-value upside, at -25%, LMP screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 16 models by family
Widest divergence: Multiples (£1.86) versus Growth DCF (£1.24). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 56
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.
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.
LMP screens 25% overvalued. Compare with Prologis, Inc →
Peer Group
REIT - Industrial · 63 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
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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $143.42 | $61.28 | -57% |
| Public Storage, a member of the S&P 500, PSA | $322.48 | $172.80 | -46% |
| Extra Space Storage Inc EXR | $147.71 | $78.38 | -47% |
| EastGroup Properties, Inc EGP | $213.10 | $81.41 | -62% |
| Lineage, Inc LINE | $41.42 | $47.91 | +16% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.51 SGD | 2.00 SGD | -20% |
| CubeSmart CUBE | $42.09 | $25.06 | -40% |
| First Industrial Realty Trust, Inc FR | $66.99 | $21.48 | -68% |
| Rexford Industrial Realty, Inc REXR | $39.00 | $21.35 | -45% |
| STAG Industrial, Inc STAG | $41.11 | $24.31 | -41% |
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Price, fair value, quality and upside side by side.
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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