Berenberg Bank Reiterates Buy Rating for British Land (LON:BLND)

Key Points

• Berenberg Bank reissued a Buy rating on British Land with a GBX 531 price target, implying roughly a 32.25% upside from the prior close.
• Analyst views are mixed—three Buys, three Holds and one Sell—resulting in an average rating of Hold and an average target price of GBX 440.
• Shares traded at GBX 401.50 (up ~1.4%) with a market cap of £4.01bn and a P/E of 8.9; the stock sits below both Berenberg's and the consensus target within a 12‑month range of GBX 318.60–432.

British Land (LON:BLND - Get Free Report)'s stock had its "buy" rating reissued by Berenberg Bank in a report issued on Tuesday,Digital Look reports. They currently have a GBX 531 price objective on the stock. Berenberg Bank's price target points to a potential upside of 32.25% from the company's previous close.

Several other equities analysts have also weighed in on BLND. Jefferies Financial Group restated an "underperform" rating and set a GBX 310 target price on shares of British Land in a report on Tuesday. Stifel Nicolaus reaffirmed a "hold" rating and issued a GBX 410 price target on shares of British Land in a research report on Tuesday. The Goldman Sachs Group lowered their price target on British Land from GBX 510 to GBX 470 and set a "buy" rating on the stock in a research report on Monday, March 30th. Finally, Shore Capital Group reaffirmed a "hold" rating on shares of British Land in a research report on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of GBX 440.

British Land Stock Up 1.4%

LON BLND traded up GBX 5.70 during trading on Tuesday, hitting GBX 401.50. 4,102,328 shares of the company traded hands, compared to its average volume of 15,351,952. British Land has a 12 month low of GBX 318.60 and a 12 month high of GBX 432. The business has a fifty day simple moving average of GBX 383.13 and a 200 day simple moving average of GBX 389.38. The company has a current ratio of 0.28, a quick ratio of 0.25 and a debt-to-equity ratio of 47.52. The company has a market capitalization of £4.01 billion, a P/E ratio of 8.90, a PEG ratio of 6.76 and a beta of 1.16.

About British Land

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & London Urban Logistics assets throughout the UK. We own or manage a portfolio valued at £13.0bn (British Land share: £8.9bn) as at 31 March 2023 making us one of Europe's largest listed real estate investment companies. We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.

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