Land Securities Group PLC (LSE:LAND) is the first of the big property giants to update on Tuesday with British Land Company PLC (LSE:BLND) due a day later.
Landsec's book value was £10.9 bln six months ago split across Central London office and retail (61%), retail centres and outlets (18%), mixed-use urban neighbourhoods (8%) and a rump of what up-for-sale ‘sub-scale’ assets (13%) such as retail parks.
The vacancy rate at the first-half stage was 4.9%, so it had yet to return to the pre-Covid lows notes Hargreaves Lansdown, while rental income was running at an annualised rate of £579mln in the first six months.
Net asset value is tipped to drop to 920p, which puts the shares on a mighty discount of around 40%.
An increase in the dividend to 38.5p is the consensus forecast and, if delivered, might help narrow that gap a little.
Vodafone Group PLC (LSE:VOD), like LandSec, is another fallen giant.
Its new chief executive will want to get off to a bright start and kickstarting the reported 3 merger might do the trick.
Otherwise, UBS sees the expensive-looking dividend being maintained but adds evidence the German business is turning around and will not require significant investment is needed to shake the current share price torpor.
Boohoo Group PLC's (AIM:BOO) turnaround plans, Imperial Brands PLC's (LSE:IMB) non-tobacco growth and Greggs PLC's (LSE:GRG) expansion plans will also be under scrutiny today.
Significant announcements
Finals: Angling Direct PLC, boohoo PLC, Cornerstone FS PLC (AIM:CSFS), DCC PLC (LSE:DCC), Land Securities PLC, Likewise Group PLC (AIM:LIKE), Smartspace Software PLC (AIM:SMRT), Vodafone PLC
Interims: Britvic PLC, Imperial Brands Group PLC, Marston PLC, On The Beach PLC, Renew Holdings (AIM:RNWH) PLC
Trading updates: Greggs PLC (LSE:GRG)
AGMs: Accesso Technology Group PLC, Chesnara PLC (LSE:CSN), Dialight PLC (LSE:DIA), Dunedin Income Growth Investment Trust PLC, Equals Group PLC (AIM:EQLS), Essentra PLC (LSE:ESNT), FDM Group (LSE:FDM) PLC, Henderson High Income Trust PLC (LSE:HHI), Impax Environmental Markets (LSE:IEM) PLC, IQGeo Group PLC (AIM:IQG), PYX Resources Ltd (LSE:PYX, NSX:PYX), Synthomer (LSE:SYNT) PLC, TI Fluid Systems PLC (LSE:TIFS), Vector Capital PLC (AIM:VCAP)
Economic announcements: Retail Sales (US), Retail Sales Less Autos (US), Capacity Utilisation (US), Industrial Production (US), Business Inventories (US), Claimant Count Rate (US), Unemployment Rate (US)
US: The Home Depot, Tencent Music