Hammerson (LON:HMSO) Announces Quarterly Earnings Results

Hammerson (LON:HMSO) posted its quarterly earnings data on Wednesday. The real estate investment trust reported GBX 46 EPS for the quarter, Digital Look Earnings reports. Hammerson had a negative net margin of 346.30% and a negative return on equity of 25.94%.

Here are the key takeaways from Hammerson’s conference call:

• Strong FY25 results and clear 2026 guidance — net rental income rose 23% to £180m, portfolio value is up ~33% to >£3.5bn, NTA increased 6% to £3.94, and management guides to ~20% NRI growth and ~15% EPRA earnings growth for 2026.
• Operational momentum — occupancy at 96%, footfall +3m to 170m, record new leasing >£50m (adding ~£260m to first break) and a strong leasing pipeline supporting further rent upside.
• Stronger balance sheet and accretive M&A — ~£760m invested to buy out JV partners at yields >7.5%, LTV ~39%, ~£1bn liquidity and upgraded credit ratings, leaving capacity for disciplined acquisitions.
• Dividend and earnings linkage — dividend increased 6% with an 80–85% payout ratio and management intends dividends to grow as earnings rise.
• Key risks — management highlighted macro/consumer weakness (notably UK and France) and noted future growth depends on continued successful repositionings, leasing uplifts and accretive deals, so delays or weaker markets could hurt the outlook.

Hammerson Trading Up 5.8%

LON HMSO traded up GBX 20.20 on Wednesday, hitting GBX 369.20. 2,512,761 shares of the stock were exchanged, compared to its average volume of 2,660,865. The company has a debt-to-equity ratio of 80.77, a quick ratio of 1.28 and a current ratio of 10.65. The firm has a market capitalization of £1.96 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.68 and a beta of 2.30. Hammerson has a 52-week low of GBX 219.20 and a 52-week high of GBX 371. The stock has a fifty day moving average price of GBX 341.25 and a two-hundred day moving average price of GBX 313.34.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HMSO. Panmure Gordon reaffirmed a “buy” rating and issued a GBX 330 price target on shares of Hammerson in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Hammerson from GBX 300 to GBX 320 and gave the company a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group boosted their price objective on Hammerson from GBX 234 to GBX 245 and gave the stock an “underperform” rating in a research note on Tuesday, October 28th. Finally, Berenberg Bank raised their target price on shares of Hammerson from GBX 405 to GBX 409 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 339.83.

Insider Activity

In other news, insider Rob Wilkinson bought 155,718 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was bought at an average cost of GBX 323 per share, for a total transaction of £502,969.14. Also, insider Rita-Rose Gagné sold 279,905 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of GBX 308, for a total value of £862,107.40. Insiders sold 542,391 shares of company stock worth $167,046,462 in the last quarter. 10.27% of the stock is owned by insiders.

Hammerson Company Profile

Hammerson is a cities business. An owner, operator and developer of prime urban real estate, with a portfolio value of £4.7billion (as at 30 June 2023), in some of the fastest growing cities in the UK, Ireland and France. Our portfolio and adjacent lands leverage our experience and capabilities to create and manage exceptional city centre destinations with the opportunity to drive value and reshape entire neighbourhoods. Our assets are high profile and play an important role in our communities, welcoming c.