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UK-listed REIT focused on logistics/warehouse and other income-producing commercial properties leased to retailers and logistics operators.
UK-listed REIT focused on logistics/warehouse and other income-producing commercial properties leased to retailers and logistics operators.
Collects rent under long leases, many with fixed or inflation-linked increases, so income is steady, and grows through acquisitions and mergers with other property companies. The 2024 merger with LXi REIT added long-lease properties let to retailers and leisure operators. As a REIT, it must distribute most of its rental profit.
In one line: A UK logistics-focused REIT, like a smaller STAG Industrial.
Moat: narrow (scale, installed base). Well-located logistics assets near population/transport hubs are scarce, though returns follow property cycles.
Headquarters: London, UK · Founded: 2013 · Employees: 54
Size LondonMetric Property (LMP.L) is a United Kingdom Real Estate company (Real Estate Investment Trusts) with a market value of $6.16B, the 79th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £187.90 on 6 Nov 2026.
Performance Over six months the shares gained 2.0%, against +0.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 17.1% over the last twelve months (peer median +7.3%); the operating margin is 89.3% (peer median 39.5%).
Valuation It trades at 13.6× forward earnings against a peer median of 23.8× (4th cheapest of 20).
Credit LondonMetric Property has 2 bonds outstanding ($667M), rated A- by the agencies and trading like BBB+ at a weighted spread of 111 bp.
Next results Next results expected around 24 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £465M | £465M | £397M | £178M | £147M |
| Revenue growth | — | +17% | +123% | +21% | — |
| Gross profit | £457M | £457M | £391M | £176M | £145M |
| EBITDA | £416M | £416M | £355M | £154M | £125M |
| Net income | £296M | £296M | £348M | £119M | -£506M |
| Free cash flow | £236M | £236M | £225M | £89.4M | £102M |
| Capital expenditure | £24.0M | £24.0M | £19.3M | £500,000 | £0 |
| Total debt | n/a | £2.99B | £2.10B | £2.12B | £1.02B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| LondonMetric Property LMP.L | $6.16B | +2% | +17% | 89% | 13.6× | n/a |
| SEGRO SGRO.L | $16.6B | +33% | +7% | 69% | 23.8× | n/a |
| Warehouses De Pauw WDP.PA | n/a | -13% | n/a | n/a | n/a | n/a |
| Prologis PLD | $123B | -11% | +7% | 38% | 39.0× | n/a |
| Supermarket Income REIT SUPR.L | $1.54B | +4% | -7% | 81% | 13.3× | n/a |
| Picton Property Income PCTN.L | n/a | -15% | n/a | n/a | n/a | n/a |
| Custodian Property Income REIT CREI.L | $545M | +1% | +9% | 68% | 13.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LMP.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.2% | +9.0% | 11th highest of 21 |
| 6-month return | +2.0% | +0.8% | 10th highest of 21 |
| Distance from 52-week high | -13.1% | -14.0% | 9th highest of 21 |
| Revenue growth (TTM) | +17.1% | +7.3% | 6th highest of 21 |
| Operating margin | 89.3% | 39.5% | highest of 21 |
| Forward P/E | 13.6× | 23.8× | 4th cheapest of 20 |
| Bond spread | 111 bp | 110 bp | 7th tightest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| LondonMetric Property LMP.L | United Kingdom | $6.16B | +2% | +17% | 89% | 13.6× | n/a | n/a |
| Essential Properties Realty Trust EPRT | United States | $6.21B | -11% | +21% | 64% | 21.6× | n/a | n/a |
| British Land BLND.L | United Kingdom | $5.94B | +17% | +15% | 52% | 14.1× | n/a | n/a |
| Rayonier RYN | United States | $6.45B | +6% | -13% | 15% | 36.0× | n/a | n/a |
| Healthcare Realty Trust HR | United States | $6.50B | -5% | -6% | 12% | 421.5× | n/a | n/a |
| Phillips Edison & PECO | United States | $5.72B | +2% | +7% | 29% | 49.4× | n/a | n/a |
| Vornado Realty Trust VNO | United States | $6.70B | +11% | +2% | 9% | n/a | n/a | n/a |
| Covivio COV.PA | France | $5.64B | -16% | +5% | 54% | 9.2× | n/a | n/a |
| Nippon Building Fund 8951.T | Japan | $6.75B | -8% | -21% | 45% | 23.8× | n/a | n/a |
| GPT GPT.AX | Australia | $6.88B | +11% | -8% | 69% | 14.5× | n/a | n/a |
| Sabra Health Care REIT SBRA | United States | $5.51B | +1% | +21% | 18% | 29.4× | n/a | n/a |
| Gecina GFC.PA | France | $5.47B | -8% | +1% | 68% | 9.8× | n/a | n/a |
| OUTFRONT Media OUT | United States | $5.42B | -9% | +8% | 20% | 22.2× | n/a | n/a |
| Macerich MAC | United States | $7.04B | +14% | +9% | -6% | 187.0× | n/a | n/a |
| STAG Industrial STAG | United States | $7.06B | -6% | +9% | 38% | 32.0× | n/a | n/a |
| First Industrial Realty Trust FR | United States | $7.13B | -14% | +9% | 42% | 30.8× | n/a | n/a |
| Mirvac MGR.AX | Australia | $5.27B | +14% | +6% | 20% | 14.8× | n/a | n/a |
| Terreno Realty TRNO | United States | $7.24B | 0% | +18% | 41% | 34.7× | n/a | n/a |
| Chartwell Retirement Residences CSH-UN.TO | Canada | $5.25B | +3% | +24% | 13% | 147.6× | n/a | n/a |
| Charter Hall CHC.AX | Australia | $7.26B | +14% | -19% | 47% | 19.1× | n/a | n/a |
| Rithm Capital RITM | United States | $5.15B | -6% | +19% | 48% | 4.1× | n/a | n/a |
LondonMetric Property has 2 bonds outstanding with $667M face value. The agencies rate it A-; its bonds trade like BBB+. Weighted yield 5.94%, a spread of 111 bp over government bonds.