LondonMetric stock edges higher as Picton acquisition completes and Jefferies lifts target

Published on 09/11/2026 at 21:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

LondonMetric stock closed at 178.40 pence on the London Stock Exchange on September 11, 2026 after completing its all-share Picton takeover. Jefferies reinitiated coverage with a Buy rating and a 225 pence price target, adding an analyst anchor to the deal story.

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LondonMetric Property Plc stock (ISIN GB00B4WFW713) traded at 178.40 pence at the close of trading on the London Stock Exchange on September 11, 2026, modestly above recent levels seen during the Picton takeover process. As Kalkine Media reported on September 11, 2026, the company has now finalized its acquisition of Picton Property Income and admitted a large block of new shares to trading, providing the key corporate catalyst for LondonMetric stock.

Picton acquisition reshapes LondonMetric

According to Kalkine Media on September 11, 2026, LondonMetric completed the all-share acquisition of Picton Property Income and listed about 976 million new ordinary shares of 10 pence each on the London Stock Exchange as part of the deal.

As Reuters reported on September 11, 2026, LondonMetric's issued share capital now comprises 2,448,611,239 ordinary shares of 10 pence each admitted to trading on the London Stock Exchange's Main Market, underscoring the enlarged scale of the property group after the transaction.

The acquisition is structured alongside Schroder Real Estate Investment Trust's own deal for a separate part of Picton, with TipRanks noting on September 11, 2026 that a significant number of new SREIT shares were also admitted to the FCA's Official List and to trading on the London Stock Exchange as part of a broader asset separation.

Analyst views and valuation after the deal

Analyst coverage has started to reflect the combined business. According to Morningstar Alliance News on September 11, 2026, Jefferies reinitiated coverage of LondonMetric Property with a Buy rating and set a price target of 225 pence per share.

In a separate data point, MarketBeat lists a consensus price target of about 227.20 pence for LondonMetric stock as of early September 2026, implying roughly 26.9 percent upside from a share price around 179.05 pence cited in its overview.

With LondonMetric stock closing at 178.40 pence on September 11, 2026 and the consensus target near 227.20 pence, the shares trade around 27 percent below analysts' aggregate valuation, highlighting that the market still prices in a meaningful discount despite the enlarged portfolio. As Kalkine Media noted on September 11, 2026, LondonMetric's market capitalization stood at roughly GBP 4.2 billion as of September 10, 2026 based on a share price around 179 pence, placing it among the larger listed UK real estate groups.

Share price performance and trading data

Per data from Yahoo Finance, LondonMetric Property stock (ticker LMP) closed at 178.40 pence on the London Stock Exchange on September 11, 2026, up 0.60 pence or 0.34 percent versus the prior close, with the session ending at around 4:22 p.m. local time.

The share price around 178-179 pence on September 10-11, 2026 compares with a level of about 189.70 pence at the start of 2026, meaning the stock has declined by close to 6 percent year to date, as summarized in the performance table on MarketBeat.

According to the takeover coverage at Kalkine Media, LondonMetric shares have been changing hands around 179 pence in recent sessions, near the mid-point of the stock's quoted trading range, with takeover activity keeping volumes firm.

Interim results and operating backdrop

While the Picton deal is the immediate catalyst, investors also look at the underlying rental income and earnings trend. LondonMetric's most recent interim results lie slightly outside the one-week search window, but the current commentary from Kalkine Media emphasizes that the enlarged group remains focused on logistics and convenience-led retail assets, segments that have shown comparatively resilient occupancy and rental demand.

As part of the Picton transaction, LondonMetric gains additional exposure to multi-let industrial and office properties, which could diversify its income stream but also introduce more cyclical risks compared with pure logistics, a factor investors may weigh when assessing valuation relative to the mid-200 pence analyst targets cited by Morningstar Alliance News and MarketBeat.

Stock closes modestly below analyst targets

LondonMetric stock's closing price of 178.40 pence on September 11, 2026 on the London Stock Exchange leaves the shares trading well below Jefferies' 225 pence price target and the broader consensus around 227.20 pence, a gap of roughly 26-27 percent that reflects both deal integration risk and the wider UK real estate market backdrop.