LondonMetric falls after Berenberg cuts target on Picton update
LondonMetric Property shares fell 2.05% to 182.00p in London after Berenberg cut its price target to 252p, citing softer FY26 valuations and higher costs. LondonMetric and Schroder REIT proposed an all-share offer for Picton Property Income, valuing it at £396 million, but no formal bid has been made. Net rental income rose 16.6% to £455.3 million for the year.