LondonMetric Property (LON:LMP) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• LondonMetric Property Plc shares have recently surpassed their 200-day moving average, indicating potential positive momentum in the stock.
• Deutsche Bank has initiated coverage with a "buy" rating and a target price of GBX 230 for the stock, alongside an average rating of "Buy" from analysts.
• Insiders have sold a combined total of nearly £711,000 worth of shares, suggesting varying perspectives on the company's immediate future.

LondonMetric Property Plc (LON:LMP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 190.62 ($2.57) and traded as high as GBX 192.10 ($2.59). LondonMetric Property shares last traded at GBX 192 ($2.59), with a volume of 4,652,832 shares traded.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft began coverage on LondonMetric Property in a research report on Wednesday, July 2nd. They set a "buy" rating and a GBX 230 price objective for the company. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, LondonMetric Property currently has a consensus rating of "Buy" and an average target price of GBX 230.

LondonMetric Property Price Performance

The stock has a fifty day moving average of GBX 194.68 and a two-hundred day moving average of GBX 190.74. The stock has a market cap of £3.86 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.68 and a debt-to-equity ratio of 53.84.

Insiders Place Their Bets

In related news, insider Andrew Jones sold 236,495 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of GBX 198, for a total transaction of £468,260.10. Also, insider Martin McGann sold 122,555 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of GBX 198, for a total value of £242,658.90. Corporate insiders own 6.29% of the company's stock.

About LondonMetric Property

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.