Derwent London's (DLN) Overweight Rating Reiterated at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reaffirmed its "overweight" rating on Derwent London, indicating confidence in the company's stock performance.
• Derwent London reported a negative net margin of 129.56% in its recent quarterly earnings, raising concerns about profitability despite a considerable market cap of £1.98 billion.
• The company's portfolio consists of 66 commercial properties in central London, valued at £4.9 billion, solidifying its position as the largest office-focused REIT in the area.

Derwent London (LON:DLN - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday, MarketBeat.com reports.

Separately, Shore Capital reissued a "buy" rating on shares of Derwent London in a research note on Monday.

Derwent London Stock Performance

Shares of Derwent London stock traded down GBX 32 ($0.43) during trading hours on Wednesday, reaching GBX 1,769 ($23.88). The company's stock had a trading volume of 489,556 shares, compared to its average volume of 453,516. The company's 50 day simple moving average is GBX 1,972.06 and its 200 day simple moving average is GBX 1,920.80. The company has a debt-to-equity ratio of 40.68, a quick ratio of 0.38 and a current ratio of 0.51. Derwent London has a one year low of GBX 1,665 ($22.48) and a one year high of GBX 2,530 ($34.16). The stock has a market cap of £1.98 billion, a P/E ratio of -5.49, a price-to-earnings-growth ratio of 23.10 and a beta of 1.03.

Derwent London (LON:DLN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The real estate investment trust reported GBX 52.20 ($0.70) earnings per share for the quarter. Derwent London had a negative net margin of 129.56% and a negative return on equity of 10.41%. As a group, analysts expect that Derwent London will post 113.7351779 EPS for the current fiscal year.

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.

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