Derwent London (LON:DLN) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Technical breakout: Derwent London shares crossed above their 200‑day moving average (GBX 1,741.32), trading as high as GBX 1,802 and last at GBX 1,784 on a volume of 462,145 shares.
• Analyst outlook: The stock has a consensus rating of "Moderate Buy" with an average price target of GBX 2,085, although several firms recently trimmed targets (e.g., Berenberg to GBX 2,210; Deutsche Bank to GBX 1,850).
• Fundamentals and insider activity: market cap ~£2.0bn, P/E 12.43 and debt/equity 43.37, while insiders have sold 8,694 shares (about $13.94m) in the past three months and hold roughly 0.40% of the stock.

Derwent London Plc (LON:DLN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,741.32 and traded as high as GBX 1,802. Derwent London shares last traded at GBX 1,784, with a volume of 462,145 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DLN shares. Berenberg Bank dropped their price objective on shares of Derwent London from GBX 2,296 to GBX 2,210 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft dropped their target price on Derwent London from GBX 2,000 to GBX 1,850 and set a "hold" rating on the stock in a report on Friday, March 20th. Stifel Nicolaus dropped their target price on Derwent London from GBX 1,925 to GBX 1,650 and set a "hold" rating on the stock in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group dropped their target price on Derwent London from GBX 2,550 to GBX 2,410 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 and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 2,085.

Derwent London Price Performance

The company has a quick ratio of 0.38, a current ratio of 0.59 and a debt-to-equity ratio of 43.37. The business's 50-day moving average is GBX 1,696.73 and its two-hundred day moving average is GBX 1,741.32. The company has a market capitalization of £2.00 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 23.10 and a beta of 1.18.

Derwent London (LON:DLN - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The real estate investment trust reported GBX 98.40 earnings per share for the quarter. Derwent London had a net margin of 40.73% and a return on equity of 4.48%. As a group, analysts predict that Derwent London Plc will post 113.7351779 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Paul M. Williams sold 3,458 shares of Derwent London stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total transaction of £55,431.74. Also, insider Damian Wisniewski sold 2,767 shares of Derwent London stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total value of £44,355.01. Over the last three months, insiders have sold 8,694 shares of company stock worth $13,936,482. 0.40% of the stock is owned by company insiders.

Derwent London Company Profile

Derwent London plc owns 66 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion as at 31 December 2023, making it the largest London office-focused real estate investment trust (REIT). Our experienced team has a long track record of creating value throughout the property cycle by regenerating our buildings via development or refurbishment, effective asset management and capital recycling. We typically acquire central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or the Tech Belt.

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.