British Land (OTCMKTS:BTLCY) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• British Land saw a significant increase in trading volume, with 118,299 shares traded on Monday—a 353% rise from the previous day's volume of 26,137 shares.
• Equities research analysts have downgraded the stock from a "strong-buy" to a "hold" rating, although it still maintains a consensus rating of "Buy."
• The company announced a dividend yield of 381.0% with a dividend of $0.0946 scheduled for payment on August 4th, which is a notable aspect considering the stock's recent performance.

Shares of British Land Company PLC Sponsored ADR (OTCMKTS:BTLCY - Get Free Report) saw unusually-high trading volume on Monday . Approximately 118,299 shares traded hands during mid-day trading, an increase of 353% from the previous session's volume of 26,137 shares.The stock last traded at $4.75 and had previously closed at $4.68.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BTLCY shares. UBS Group downgraded British Land from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Kepler Capital Markets downgraded British Land from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, British Land has an average rating of "Buy".

British Land Stock Performance

The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $5.03 and a 200-day moving average of $4.88.

British Land Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, August 4th. Shareholders of record on Monday, June 23rd were given a dividend of $0.0946 per share. This represents a yield of 381.0%. The ex-dividend date of this dividend was Friday, June 20th.

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.