Company
Hammerson PLC
LON:HMSO
Hammerson PLC is a commercial and retail property developer and manager with a diverse range of investments in the United Kingdom and continental Europe.
135 stories · page 1 of 2
Hammerson shares jump as Bicester Village and other value destinations outperform
Shares in Hammerson in the year so far, however, are down 31%
Goldman Sachs analysts cuts growth forecasts across UK real estate as they expect a "rapid repricing" in the sector
The Goldman analysts said the updated estimates are based on their expectation of around a 15%-20% correction in UK commercial real estate prices between June 2022 and December 2024
Hammerson cuts losses after "fundamental changes"
Losses down to £429mln as portfolio shrinks under "fundamental changes" to business
Could strong US non-farm payroll on Friday spell a bigger US interest rate hike?
In UK company news, shopping centre owner Hammerson and components maker Essentra will be among those issuing results
Hammerson confirms talks on sale of Victoria Gate and Victoria Quarter shopping centres for £120mln
The shopping centre owner said its strategy is to focus on prime urban estates through disposals of non-core assets
Hammerson in talks to sell flagship Scottish site
Silverburn in Glasgow has an annual footfall of approximately 10.4mln people
Hammerson says rent collection improves but footfall remains below pre-pandemic levels
The landlord provided rent holidays for some of its tenants during the pandemic, but said today that it does not anticipate granting future concessions
Hammerson values falling and leases over-rented, says Liberum
The broker also said the property firm's balance sheet "remains at risk of getting too close to covenant breach levels"
Property stocks hit on report government to extend eviction ban
Plans expected to be revealed later today by the government will also include a new arbitration service
Commercial property recovery might be short-lived warns economist as Hammerson culls retail parks
"There is limited further upside in the near-term, despite the more favourable economic outlook.”
Hammerson reports strong rebound in footfall as shops reopen
Hammerson announced last week it was cutting retail rents by a third
Hammerson confirms it is in talks to sell its retail portfolio
The Sunday Times newspaper reported that the disposed portfolio comprises retail parks in Falkirk, Didcot, Middlesbrough, St Helens, Telford, Merthyr Tydfil, and Rugby.
Hospitality, leisure stocks on the rise after Boris Johnson confirms April 12 reopening in line with roadmap
Indoor venues such as non-essential retail, hairdressers and gyms as well as bars and restaurants with outdoor seating will resume trading next week
Hammerson bottom line gets a 'malling' but shares rise on news of strategic review
"We are currently working on a thorough strategic and organisational review that will map out a route to future growth to transform the business," said CEO Rita-Rose Gagné
Hammerson hit by new round of coronavirus lockdowns
National lockdowns are in place in Ireland and the UK, with significant restrictions in place across France
Hammerson says rent collections improving but still low
Rates of collection from the last two quarters should improve further now that most sites had reopened again
Archive
Seeing Machines rises with new product strategy
A look at Wednesday's major share movers in the London Stock Exchange
Hammerson's rescue rights issue will allow it to dodge near-term covenant breach, says broker
In a note upgrading the Bullring owner to 'hold' from 'sell', analysts at Liberum also said they did not expect any more disposals from the firm following the planned sale of its European joint venture Via Outlets
Hammerson launches £552mln rights issue at 95% discount and sells European JV
Hammerson unveiled the rescue refinancing alongside a £1.1bn loss for the half-year to end-June, 2020
Hammerson and IAG stoke funding market back up after quiet July
July had shown a falling trend in terms of fundraisings until IAG stepped in
Hammerson might struggle to fund buyers for rights issue shares, suggests broker
"Our 30p target price is based on an average of two rights issue scenarios"
Hammerson confirms plan for huge rights issue and sale of Via Outlets stake
Via Outlets is a joint venture with Dutch pension fund APG that owns shopping centres in European cities such as Amsterdam and Prague
Hammerson wobbles as short sellers tighten the screws
The shopping centre owner now has over 13% of its shares held in short positions following a steep decline in its value since the start of 2020
Archive
FTSE 100 closes lower midweek as rising tension between US and China hits global sentiment
The UK's index of premier shares closed down over 62 points, or 1%, at 6,207
Hammerson may just be delaying the inevitable
The shares trade on an 85% discount to net asset value but Peel Hunt retained its 'reduce' recommendation and Liberum remained at 'sell'
Hammerson to continue selling off properties after lenders relax covenants
The retail property developer has been approved for £300mln from the Bank of England’s Covid Corporate Financing Facility
Hammerson boss to leave after ten years in the role
He will remain in position until spring 2021 at latest while the board looks for a replacement
Hammerson suffers blow as retail parks disposal deal collapses
Hammerson said it will now terminate the purchase agreement and take the £21mln deposit held in escrow
Hammerson’s retail parks sale could fall through as buyer not looking to complete transaction
Orion European Real Estate Fund agreed in February to buy seven retail parks for £400mln
Hammerson downgraded to ‘hold’ by Deutsche Bank as coronavirus crisis hits landlords
Recovery is expected in 2021 when deferred rents start flowing in
Hammerson dealing with rent waiver requests on a case-by-case basis
The group received rents for 37% its UK properties for the March quarter,
Hammerson slumps deeper into loss after £1bn property write-down
Net asset value dropped against a "challenged" UK sector
Hammerson dumps nine retail parks for £455mln
The group has an interest in one remaining retail park, Brent South, part of the Brent Cross estate, which is held in a joint venture with Aberdeen Standard Investments and is marked for sale
John Lewis leans on its landlords
Service charges are applied on top of rent for things such as security services in a shopping centre. John Lewis thinks they have got high.
Hammerson hires CFO with eye for new strategies and 'substantial change'
The shopping centre owner highlighted that Lenton previously had responsibility for “developing a new global strategy” at EY
Hammerson sees retail portfolio valuation hammered but Parisian sale helps debt plans
The net asset value of the FTSE 250 group's shopping centres and retail parks fell 7% year to 685p per share
Hammerson disposals would rebuild balance sheet and still allow chunky dividend, says Peel Hunt
Broker's property sector review resulted in upgrades for Hammerson, Shaftesbury and Capital & Regional, but downgrades to Helical and Primary Health Properties
Retail 'survivors' to pile more pressure on Land Securities and peers, Liberum warns
Broker warns that the industry has yet to fully price the “rising bargaining power of stronger surviving retailers” such as Next
Debenhams to remain in the hands of lender consortium as administrator fails to find suitable buyer
Celine UK NewCo 1 Ltd, which represents the consortium, said none of the bids received for the chain had been “at the level required to be taken forward”
Standard Chartered faces possible shareholder revolt over executive pay plan
The news marks the latest in a series of potential shareholder rebellions over pay increases that see executives’ pensions raised more than ordinary workers.
Bloody noses in store for Hammerson, Barclays and Reach from angry investors
Hammerson's annual shareholder meeting takes place on Tuesday while Barclays and Reach have theirs on Thursday
Debenhams to close 22 stores next year as part of CVA plan
Several London-listed REITs have Debenhams stores on their books
Hammerson weak as Stifel cuts stance to ‘sell’ from ‘hold’ after reducing estimates, target price due to planned disposals
The US broker's analysts pointed out that Hammerson has identified £900mln of potential asset sales, of which they assume £500mln will be completed during full-year 2019
Intu goes with chief financial officer as its new CEO
"I would like to extend my personal gratitude to David [Fischel] for continuing to steer the group for a longer period than was originally intended until we had completed our succession process," said John Strachan, the chairman of Intu.
Bullring owner Hammerson says 2018 was 'tough' as it posts annual loss
Hammerson offloaded £570mln worth of properties last year and plans a further £500mln of disposals this year as part of a strategy to sell its out-of-town retail parks and reduce its exposure to struggling department stores
Archive
Hotchpotch of blue-chip results set to flow in coming week from likes of Rolls-Royce, ITV, WPP
The Week Ahead will also bring a trading update from AB Foods, plus final results from Standard Chartered, IAG, Persimmon, Rightmove, as well as the latest US GDP data
RBC initiates coverage on six property firms as it turns spotlight on UK real estate
Both LandSec and Tritax were given 'outperform' ratings on the back of an improved risk profile and exposure to the UK industrial property market respectively
The FTSE 100 survivors and thrivers: Who has stayed on top among the blue-chips?
Since its foundation in 1984, the FTSE 100 has become one of the key barometers of the British economy, however the makeup of its constituent companies is far from the same
Hammerson weak as JPMorgan Cazenove downgrades to ‘neutral’ in cautious review of European property sector
The US bank also reduced its target price for Hammerson to 410p, down from 610p previously, with the shares currently trading at 344.80p, 3.7% below Friday’s close
Investments and investor services
FTSE 100 nudges lower at close as China growth worries hit stocks
The UK's blue-chip index finished down nearly seven points at 6,96, while FTSE 250 was also lower
Hammerson and Workspace shares lifted by Deutsche Bank upgrades
In a bullish note on European real estate, analysts at Deutsche upped both firms to 'buy' from 'hold', however, it was bittersweet as both also had their target prices cut
Hammerson confirms full year trading to be “in line with market expectations” as it pauses share buyback programme
The FTSE 250 retail property developer said at 31 December, it had executed around 43% of its £300mln target, with the programme to run over the twelve months to July 2019
Intu pushes back deadline for deputy chairman to firm up his £3bn takeover bid
John Whittaker and his Canadian and Saudi Arabian backers originally had until tomorrow to either make a formal offer or walk away, but the deadline has been pushed back a week
Barclays blights trio of property stocks, downgrading ratings for British Land, Hammerson, and NewRiver REIT
Barclays' analysts concluded: “We do not know how deep the rabbit hole goes but the retail asset market is experiencing asymmetric downside risk"
Intu Properties says considering 215p per share preliminary takeover offer from Whittaker consortium
The consortium comprising John Whittaker's Peel Group, Saudi Arabia’s Olayan and Canadian property investor Brookfield Asset Management initially offered 205p per Intu share on October 11
Sirius Minerals rises after dishing out £65,000 worth of shares to two employees
Some of the main risers and fallers in London on Friday...
Intu Properties back in play as deputy chairman John Whittaker mulls bid
Having been prompted by press reports to reveal it is pondering a bid, the consortium has until 5.00pm on November 1 to either make a move or walk away
FTSE 100 closes sharply lower as sterling gains and miners weigh
The UK blue - chip index finished down 99.8 points at 7,318, while FTSE 250 was also lower
Hammerson downgraded to 'neutral' by UBS with retail reality set to bite
"Our negative stance on retail makes us increasingly cautious on the stock even at this price," UBS said
PCI-PAL drops as card payments provider sees sharply widened loss on North America expansion
A look at some of the London market's biggest risers and fallers on Wednesday
Whitbread faces pressure to prove merits of Premier Inn as standalone business
“Whitbread investors may miss the caffeine highs Costa serves up," Hargreaves Lansdown said of the group's decision to sell the coffee chain to Coca-Cola
Morgan Stanley cuts Hammerson to ‘equal-weight’ from ‘overweight’ after refreshing forecasts in wake of recent interims
The US bank also cut is target price for the FTSE 250-listed stock back to 565p from 600p, with the shares currently changing hands at 512p each, down 3.2%
Hammerson drives another nail into the coffin of retail parks
The disposal target by the end of 2019 is now £1.1bn, with £300mln already delivered year to date. "While this may be sensible, there is a risk that this saturates the market at an inopportune moment," Liberum said
FTSE 100 closes firmly higher with miners taking the top spots
The global financial body added that several countries, including the US and UK, had excessive current account deficits and borrowed too much
Archive
Investors looking for some thirst quenchers from Britvic, Fevertree, and Fuller's
Aside from the soft drinks firms and brewer, the day ahead on Tuesday includes updates from blue-chip real estate firm Hammerson and student acommodation group Unite
Archive
Apres moi le deluge: Flood of blue chip results to dominate in coming week, including BT Group
Over the five sessions in the Week Ahead, around 20% of the FTSE 100 index will report results or issue a trading update, with about half that number due on Thursday alone
FTSE 100 dips towards bell but still closes higher; pound up against US dollar
The UK's premier index added over 25 points at 7,712, with resource stocks taking up four of the top five positions.
Investments and investor services
Takeover talk – What happens when CEOs snub a bid? Ask FirstGroup’s Tim O’Toole
Naturally, most deals ultimately boil down to valuation - this is capitalism after all
Morgan Stanley upgrades UK equities to ‘overweight’ despite Brexit uncertainty
Equities should benefit from higher commodity prices and rising corporate activity, Morgan Stanley said.
Archive
Proactive news snapshot: OptiBiotix Health, Kromek Group, Union Jack Oil …
A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
Cora Gold leads small cap risers as it boasts “exciting high grade results”
A look at some of the biggest risers and fallers in London on Tuesday.
Hammerson gains after Deutsche Bank resumes coverage with 'buy' rating after Intu deal scrapped
Deutsche Bank said the termination of Hammerson's takeover deal with Intu ends a period of "transactional uncertainty" for retail landlord shareholders
Intu terminates Hammerson deal, believes in its stand-alone commercial future
Intu said it believes that “there is no realistic prospect” that all conditions would be satisfied
Hammerson's U-turn welcomed by brokers but "orphaned" Intu is left in the cold
Hammerson's board does not come out well after the recent bid merry-go-round involving Kleppiere and Intu Properties but in the end it made the right decision, most brokers think
Hammerson calls off Intu takeover, citing tough retail market and shareholder pressure
Hammerson had received opposition to its takeover bid for Intu from a number of shareholders
Enteq flows higher as oil sector rebound boosts latest full-year results
Oil prices have recovered over the past year which has led to companies setting up more rigs; good news for Enteq, an oilfield services provider
Investments and investor services
FTSE 100 closes firmly higher as metals prices, sterling help
FTSE 100 gained support from higher metals prices and a slide in sterling on Wednesday to close higher
Top Hammerson shareholder set to vote against Intu takeover
Dutch pension fund APG, which owns a 7.2% stake in Hammerson, said the proposed £3.4bn takeover of Intu doesn’t take into account the current state of the UK high street
French real estate group Klepierre gives up on attempt to buy Hammerson
Klepierre said Hammerson "did not provide any meaningful engagement" with respect to its increased offer
Hammerson says “unanimously rejected” revised bid proposal from French property giant Klépierre
The FTSE 250-listed real estate investment trust said the revised proposal of 635p per Hammerson share, comprised 50% in new Klépierre shares and 50% in cash
Hammerson sees little impact from retail struggles as it puts Intu merger plans on hold
Hammerson has delayed a deal to buy UK rival Intu while the position of Klepierre, the French shopping centre firm wants to buy the company, "remains unclear"
Investments and investor services
FTSE 100 closes higher as traders await US interest rate decision
The Footsie has been in consolidation mode for most of the day
Hammerson shares leap as Klepierre says property firm rejected its bid "in less than 24 hours"
In a statement confirming media speculation, Klepierre said its 615p a share offer, which represents a premium of around 40.7% to Hammerson's closing price last Friday, was made on March 8
Investments and investor services
FTSE 100 closes nearly 1.7% lower as Brexit deal strengthens sterling
FTSE 100 closed down 121 points at 7,042, joining other European benchmarks, which saw red
FTSE 100 heats up ahead of chilly weekend
The top-share index rallied in the afternoon session to close at 7,164, up 24 points on the day
Hammerson hammered by Credit Suisse downgrade
Goldman Sachs has added Hammerson to its "conviction buy" list but Credit Suisse, after running the rule over the shopping centres owned by Hammerson and its proposed merger partner, Intu, is less impressed
Investments and investor services
FTSE 100 closes higher as Dow Jones climbs after host of data
Britain's blue chip index closed up around seven points, or 0.10%, at 7,139..
Investments and investor services
Cineworld and Savills financial results in the spotlight for Thursday
Investors will be looking to Cineworld for news of asset integration, whereas for Savills results the attention will be on its battle for market share.