Derwent London (OTCMKTS:DWVYF) Shares Down 3.1% - Here's What Happened

Key Points

• Derwent London's share price has decreased by 3.1%, last trading at $22.20, with volume increasing significantly compared to average trading sessions.
• Despite the recent drop, Citigroup has upgraded the stock from a "hold" to a "strong-buy" rating, indicating potential for growth.
• Derwent London is the largest London office-focused REIT, owning a portfolio of 66 commercial buildings valued at £4.9 billion as of December 31, 2023.

Derwent London Plc (OTCMKTS:DWVYF - Get Free Report)'s stock price traded down 3.1% on Friday . The company traded as low as $22.20 and last traded at $22.20. 87 shares changed hands during mid-day trading, an increase of 1,900% from the average session volume of 4 shares. The stock had previously closed at $22.90.

Analyst Ratings Changes

DWVYF has been the subject of several research analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of Derwent London in a research report on Monday, May 19th. Citigroup raised Derwent London from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st.

Derwent London Stock Performance

The stock's 50 day moving average price is $22.87 and its 200 day moving average price is $23.40.

About Derwent London

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.