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

Key Points

• LondonMetric Property's stock price surpassed its 200-day moving average of GBX 190.40, reaching a high of GBX 190.60 during trading.
• Deutsche Bank initiated coverage on LondonMetric Property with a "buy" rating and a price target of GBX 230 ($3.12).
• Corporate insiders at LondonMetric Property sold significant amounts of stock earlier in June, highlighting potential insider sentiment towards the company's shares.

LondonMetric Property Plc (LON:LMP - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 190.40 ($2.58) and traded as high as GBX 190.60 ($2.58). LondonMetric Property shares last traded at GBX 189.30 ($2.57), with a volume of 5,423,914 shares trading hands.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft began coverage on shares of LondonMetric Property in a report on Wednesday, July 2nd. They set a "buy" rating and a GBX 230 ($3.12) price objective on the stock.

LondonMetric Property Stock Down 0.8%

The business's fifty day moving average price is GBX 196.06 and its 200 day moving average price is GBX 190.56. The firm has a market capitalization of £3.82 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 3.27 and a beta of 0.90. The company has a current ratio of 0.68, a quick ratio of 0.81 and a debt-to-equity ratio of 53.84.

LondonMetric Property (LON:LMP - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported GBX 15.73 ($0.21) EPS for the quarter. LondonMetric Property had a net margin of 66.69% and a return on equity of 3.87%. On average, equities analysts expect that LondonMetric Property Plc will post 13.7260274 EPS for the current year.

Insiders Place Their Bets

In other LondonMetric Property news, insider Martin McGann sold 122,555 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of GBX 198 ($2.69), for a total transaction of £242,658.90 ($329,073.64). Also, insider Andrew Jones sold 236,495 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of GBX 198 ($2.69), for a total transaction of £468,260.10 ($635,015.05). 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.