British Land (LON:BLND) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• British Land shares rose above their 200-day moving average, reaching GBX 441.60 before closing at GBX 437.20, up 0.3%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of GBX 446.44; four analysts rate the stock Buy, five Hold and one Sell.
• The company reported quarterly EPS of GBX 28.90 and revenue of £523 million, while insiders purchased 65,409 shares worth approximately £27.9 million over the past 90 days.

British Land Company PLC (LON:BLND - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 401.76 and traded as high as GBX 441.60. British Land shares last traded at GBX 437.20, with a volume of 1,149,997 shares.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BLND shares. Stifel Nicolaus reaffirmed a "hold" rating and issued a GBX 410 price target on shares of British Land in a report on Wednesday, May 20th. Shore Capital Group reissued a "hold" rating on shares of British Land in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 510 price objective on shares of British Land in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of British Land from GBX 440 to GBX 430 and set a "neutral" rating for the company in a research report on Tuesday, June 9th. Finally, Berenberg Bank boosted their price target on shares of British Land from GBX 531 to GBX 534 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, British Land has an average rating of "Hold" and a consensus price target of GBX 446.44.

British Land Stock Up 0.3%

The company has a quick ratio of 0.25, a current ratio of 0.15 and a debt-to-equity ratio of 52.34. The stock has a 50-day simple moving average of GBX 424.74 and a two-hundred day simple moving average of GBX 401.76. The firm has a market cap of £4.48 billion, a PE ratio of 9.65, a P/E/G ratio of 6.76 and a beta of 1.18.

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

Insider Transactions at British Land

In other news, insider Amanda Mackenzie bought 18,853 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of GBX 396 per share, with a total value of £74,657.88. Also, insider Raj Shah purchased 25,300 shares of British Land stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average price of GBX 393 per share, for a total transaction of £99,429. Over the last 90 days, insiders have purchased 65,409 shares of company stock worth $27,865,016. 0.52% 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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