LondonMetric Property (LON:LMP) Stock Passes Below 200 Day Moving Average - What's Next?

Key Points

• LondonMetric Property's stock price has fallen below its 200-day moving average, currently trading at GBX 180 ($2.42), which is down from a moving average of GBX 189.71 ($2.55).
• Deutsche Bank has initiated coverage with a "buy" rating and set a price target of GBX 230, indicating potential growth for the stock.
• The company has a market capitalization of £4.19 billion and a high price-to-earnings ratio of 1,057.06, suggesting it may be overvalued relative to earnings.

LondonMetric Property Plc (LON:LMP - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 189.71 ($2.55) and traded as low as GBX 180 ($2.42). LondonMetric Property shares last traded at GBX 180 ($2.42), with a volume of 4,004,948 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on LondonMetric Property in a report on Wednesday, July 2nd. They issued a "buy" rating and a GBX 230 price target for the company. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of GBX 230.

LondonMetric Property Stock Down 0.2%

The company has a quick ratio of 0.81, a current ratio of 0.68 and a debt-to-equity ratio of 53.84. The company has a market capitalization of £4.19 billion, a price-to-earnings ratio of 1,057.06, a P/E/G ratio of 3.27 and a beta of 0.90. The business's 50-day moving average is GBX 186.87 and its 200-day moving average is GBX 189.71.

LondonMetric Property Company Profile

LondonMetric is a FTSE 100 REIT that owns and manages desirable real estate that meets occupiers demands and delivers reliable, repetitive and growing income-led returns and outperforms over the long term. As a real estate owner, we look to help occupiers, communities and stakeholders grow, thrive and revitalise in an evolving and complex world.

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