British Land (LON:BLND) Sets New 12-Month High - What's Next?

Key Points

• British Land shares hit a new 52-week high, trading as high as GBX 445.40 before ending around GBX 442, up 0.8% on the day.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, five Hold, and one Sell, with an average price target of GBX 446.44, close to the current share price.
• The company recently reported quarterly EPS of GBX 28.90 on revenue of £523 million, and insiders have also been buying shares in recent weeks.

British Land Company PLC (LON:BLND - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 445.40 and last traded at GBX 442, with a volume of 6595529 shares traded. The stock had previously closed at GBX 437.80.

Wall Street Analyst Weigh In

BLND has been the topic of several recent research reports. Jefferies Financial Group reaffirmed an "underperform" rating and set a GBX 305 target price on shares of British Land in a report on Tuesday, June 2nd. UBS Group reissued a "neutral" rating and set a GBX 440 target price on shares of British Land in a research note on Monday, May 18th. Stifel Nicolaus reiterated a "hold" rating and issued a GBX 410 price target on shares of British Land in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 510 target price on shares of British Land in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group cut their target price on British Land from GBX 510 to GBX 470 and set a "buy" rating on the stock in a report on Monday, March 30th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, British Land has an average rating of "Hold" and an average price target of GBX 446.44.

British Land Stock Up 0.8%

The stock has a market cap of £4.52 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 6.76 and a beta of 1.18. The stock has a 50 day simple moving average of GBX 409.16 and a 200 day simple moving average of GBX 397.97. The company has a quick ratio of 0.25, a current ratio of 0.15 and a debt-to-equity ratio of 52.34.

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

Insider Buying and Selling

In related news, insider Amanda Mackenzie purchased 18,853 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average cost of GBX 396 per share, with a total value of £74,657.88. Also, insider David Walker bought 21,148 shares of the stock in a transaction dated Friday, June 26th. The stock was purchased at an average price of GBX 422 per share, with a total value of £89,244.56. Over the last quarter, insiders acquired 65,448 shares of company stock valued at $27,879,719. 0.47% of the stock is owned by corporate insiders.

British Land Company Profile

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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