British Land (LON:BLND) Sets New 1-Year High - Here's Why

Key Points

• British Land shares reached a new 52-week high of GBX 451.60 before closing near GBX 448, supported by gains above both its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy, five a Hold and one a Sell, resulting in an average Hold rating and a GBX 446.44 price target. Berenberg raised its target to GBX 534, while Deutsche Bank maintained a Buy rating with a GBX 510 target.
• Company insiders recently bought 65,448 shares worth approximately £27.9 million, while British Land reported quarterly EPS of GBX 28.90 and revenue of £523 million.

British Land Company PLC (LON:BLND - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as GBX 451.60 and last traded at GBX 448, with a volume of 414952969 shares. The stock had previously closed at GBX 448.20.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BLND shares. Stifel Nicolaus restated a "hold" rating and issued a GBX 410 price target on shares of British Land in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 510 target price on shares of British Land in a report on Wednesday, April 22nd. UBS Group reaffirmed a "neutral" rating and issued a GBX 440 price target on shares of British Land in a report on Monday, May 18th. Shore Capital Group reiterated a "hold" rating on shares of British Land in a research report on Tuesday, April 21st. Finally, Berenberg Bank lifted their price objective on British Land from GBX 531 to GBX 534 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of GBX 446.44.

British Land Trading Down 1.1%

The stock has a market cap of £4.54 billion, a PE ratio of 9.78, a PEG ratio of 6.76 and a beta of 1.18. The business has a 50-day moving average of GBX 419.95 and a 200 day moving average of GBX 400.51. The company has a debt-to-equity ratio of 52.34, a quick ratio of 0.25 and a current ratio of 0.15.

British Land (LON:BLND - Get Free Report) last announced its earnings results on Wednesday, May 20th. The company reported GBX 28.90 earnings per share for the quarter. The firm had revenue of £523 million during the quarter. British Land had a net margin of 86.48% and a return on equity of 7.73%. Equities research analysts predict that British Land Company PLC will post 29.375 EPS for the current fiscal year.

Insider Activity

In other news, insider Raj Shah bought 25,300 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of GBX 393 per share, for a total transaction of £99,429. Also, insider Amanda Mackenzie bought 18,853 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of GBX 396 per share, for a total transaction of £74,657.88. In the last three months, insiders acquired 65,448 shares of company stock worth $27,879,719. Corporate insiders own 0.47% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source