Berenberg Bank Has Lowered Expectations for Derwent London (LON:DLN) Stock Price

Key Points

• Berenberg Bank lowered its price target for Derwent London from GBX 2,296 to GBX 2,210 but kept a buy rating, with the new target implying about a 37.74% upside from the prior close.
• Other brokers (Goldman Sachs, Stifel, Deutsche Bank) have also trimmed targets, leaving a consensus of four Buys and three Holds and an average target of GBX 2,085, versus the stock's recent level around GBX 1,604.50.
• Derwent London is a central-London REIT with a £1.80bn market cap, a P/E of 7.59 and a 12‑month trading range of GBX 1,469.33–2,106, highlighting valuation and volatility considerations for investors.

Derwent London (LON:DLN - Get Free Report) had its price objective reduced by research analysts at Berenberg Bank from GBX 2,296 to GBX 2,210 in a research note issued on Wednesday,London Stock Exchange reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Berenberg Bank's price objective suggests a potential upside of 37.74% from the company's previous close.

Several other equities research analysts have also recently issued reports on DLN. The Goldman Sachs Group lowered their target price on shares of Derwent London from GBX 2,550 to GBX 2,410 and set a "buy" rating on the stock in a research note on Monday. Stifel Nicolaus decreased their price target on shares of Derwent London from GBX 1,925 to GBX 1,650 and set a "hold" rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Derwent London from GBX 2,000 to GBX 1,850 and set a "hold" rating on the stock in a research report on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Derwent London has an average rating of "Moderate Buy" and an average target price of GBX 2,085.

Derwent London Price Performance

DLN stock traded up GBX 32.50 during trading on Wednesday, hitting GBX 1,604.50. The stock had a trading volume of 437,582 shares, compared to its average volume of 1,145,014. The company has a debt-to-equity ratio of 43.37, a current ratio of 0.59 and a quick ratio of 0.38. Derwent London has a twelve month low of GBX 1,469.33 and a twelve month high of GBX 2,106. The stock has a market capitalization of £1.80 billion, a P/E ratio of 7.59, a PEG ratio of 23.10 and a beta of 1.19. The company's 50-day moving average price is GBX 1,765.59 and its two-hundred day moving average price is GBX 1,744.17.

Derwent London (LON:DLN - Get Free Report) last announced its earnings results on Thursday, February 26th. The real estate investment trust reported GBX 98.40 EPS for the quarter. Derwent London had a return on equity of 4.48% and a net margin of 40.73%. As a group, research analysts predict that Derwent London will post 113.7351779 EPS for the current fiscal year.

About Derwent London

Derwent London plc owns 66 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion as at 31 December 2023, making it the largest London office-focused real estate investment trust (REIT). Our experienced team has a long track record of creating value throughout the property cycle by regenerating our buildings via development or refurbishment, effective asset management and capital recycling. We typically acquire central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or the Tech Belt.

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