MARKET TALK: Hammerson Acquisition Fairly Small - KBC

11th Jun 2010 07:45

0645 GMT [Dow Jones] Hammerson's (HMSO.LN) acquisition of Leadenhall Court increases the size of the company's portfolio by only about 1%, so it is not material for forecasts, says KBC Peel Hunt. Says the building is let to March '14 and the passing rent of GBP7.2M implies an initial yield of 11%. Has Hammerson at buy with target price of 454p. Shares closed on Thursday at 358.5p. Elsewhere, says there could be a knock-out bid for the entire White Tower Portfolio, of which the Leadenhall Court city office building formed a part. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 11, 2010 02:45 ET (06:45 GMT)