British Land is one of the UK's largest property developers. The company has operated since 1856 and has a solid balance sheet.

Overview

British Land Company PLC (LON: BLND) is one of the largest property development and investment companies in the UK. The firm became a real estate investment trust when REITs were introduced in the UK in January 2007. It is headquartered in London, England. They own £9.8bn worth of British Land with over £13.3bn worth of AUM.

Financials

The total market cap for British Land is about £4.3bn. Revenue (Mar 21" - Mar 22") was £430m with a profit after tax of £958m. Joint ventures and valuation movement and additional £629m taxable profits, hence the profit after tax being higher than revenue. Total assets were also very strong with cash on hand sitting at £74m and total assets sitting at £9.84bn (£9.5bn of this was in property, joint ventures and developments). Total liabilities were low in comparison at just £3.1bn of which £2.42bn is loans and debentures. British land’s EPS growth has risen 42.24% over the last five years. As its EPS for the fiscal year was 1.03 and lastly, they have secured a Fitch affirmed senior unsecured credit rating at ‘A’ and this is very important as the higher credit rating will mean lower interest rates and thier debts. The full report can be found here.

Technicals

From a technical aspect, the stock is actually bearish on the weekly timeframe and looks negative. Initial support sits at £4.43 recent weekly low. A break below here could take the share towards the Covid lows over time where support sits at £3.14. Between the current price and that low, there will be other levels of support such as the £4.25 2021 low. Towards the upside, a break above £4.70 takes British Land Towards the yearly trendline resistance (Blue line) at £5.20 level. A break above here could change the outlook completely bringing a full bullish outlook. For now, though, it is likely to just see the share consolidate between the forming descending triangle until the UK economic outlook turns positive.

Summary

Historically land increases in value, therefore British Lands portfolio will likely reflect this over time, it signifies the strength in the commodity itself and even in pandemic lows land stood strong, and so did British Land. Putting aside historical information on the company looking to the future, which will may drive the stock higher, they have Completed net-zero audits at all their major assets; 70% portfolio is now EPC A-C rated. And furthermore, delivered their second net-zero carbon development at 1 Triton Square, fully let to Meta Inc, showing how this old company can integrate new strategy to drive profit.