LondonMetric Property (LON:LMP) Sets New 52-Week High at $205.60

LondonMetric Property Plc (LON:LMP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 205.60 ($2.58) and last traded at GBX 203 ($2.55), with a volume of 2825030 shares changing hands. The stock had previously closed at GBX 198.80 ($2.50).

Analysts Set New Price Targets

Several brokerages recently issued reports on LMP. Berenberg Bank upgraded LondonMetric Property to a "buy" rating and increased their price objective for the stock from GBX 176 ($2.21) to GBX 229 ($2.88) in a report on Wednesday, March 6th. Shore Capital restated a "buy" rating on shares of LondonMetric Property in a report on Wednesday, March 6th.

LondonMetric Property Price Performance

The firm has a market cap of £4.14 billion, a price-to-earnings ratio of -1,067.37, a price-to-earnings-growth ratio of 3.27 and a beta of 0.86. The stock's 50-day moving average price is GBX 194.81 and its 200 day moving average price is GBX 187.60. The company has a quick ratio of 0.81, a current ratio of 0.47 and a debt-to-equity ratio of 43.79.

LondonMetric Property Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, February 29th were issued a dividend of GBX 2.40 ($0.03) per share. This represents a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 29th. LondonMetric Property's payout ratio is presently -5,263.16%.

Insider Activity

In other news, insider Katerina Patmore bought 10,000 shares of LondonMetric Property stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of GBX 192 ($2.41) per share, with a total value of £19,200 ($24,117.57). 6.03% of the stock is currently owned by company insiders.

LondonMetric Property Company Profile

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a grocery-led long income portfolio, with 17 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.