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Sunday share tips: Londonmetric

14 Jul, 2024 12:01

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(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of LondonMetric to its readers, highlighting its long record of dividend payouts, focus on the fast-growing bits of the economy and "rude" financial health.





LondonMetric had been paying out dividends for nine years and Midas expected the current year to be no different.

Key to the property firm's model, it did not manage its sites, which allowed it to lower costs and pay "plenty" of dividends.

Indeed, analysts estimated that the company would hike its dividend for the current year to 12p per share, putting it on a dividend yield of 6.25%.

Midas also noted how over two fifths of its portfolio by value was made up of warehouses and logistical hubs.

The company also had a notable client roster, which included the likes of Primark, Amazon, or Royal Mail.

So too its edge-of-town properties, where the rent roll included Waitrose, M&S, Aldi or B&M.

Furthermore, its dividends were paid out quarterly, rental income was expected t hit nearly £400m this year after its merger with Lxi and the tie-up would yield cost synergies.

"Property firms have had a rough time but the cycle seems to be turning and LondonMetric is well positioned to benefit."

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