Try not to laugh, Landsec is 'positioning for growth'!
By Chris Bailey | Monday 19 October 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Back in May I concluded that I would ‘continue to steer clear of the FTSE-100 commercial property behemoths’. That article particularly referenced Land Securities (LAND) and in the five plus months since then – despite global capital markets generally being risk-on during this period – shares in this particular commercial property play have not recovered one iota (and despite a share price that has declined by two-thirds over the last five years). Anyhow today sees the big Land Securities – or ‘Landsec’ as it now trendily calls itself – fightback plan, which the company itself tags as ‘positioning Landsec for growth’…
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