No. of Recommendations: 5
British Land (BLND:LSE) and Land Securities (LAND:LSE).
For whatever it's worth,
BLND at 330 pence, dividend yield 6.93%, net yield after 20% withholding tax if that matters to you: 5.55%
LAND at 493 pence, dividend yield 8.15%, net yield after 20% withholding tax if that matters to you: 6.52%
I don't think buying on yield is a good idea in a number of different ways. However it is quite possible that the reason here is an overshoot to the downside on price, not evaporation of the underlying business merits. And, given that they are REITs, [cyclically adjusted] yield is actually not a bad yardstick. Note that these businesses are essentially 100% UK local and tariffs are not really an issue : )
I have opened starter positions in these two.
Jim
