LondonMetric Property (LON:LMP) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• LondonMetric Property's stock price has surpassed its 200-day moving average of GBX 190.04, closing at GBX 191.90 on Tuesday.
• Deutsche Bank has initiated coverage on LondonMetric Property, issuing a "buy" rating and setting a price target of GBX 230 ($3.06).
• Insider transactions included the sale of 236,495 shares by Andrew Jones and 122,555 shares by Martin McGann, both at an average price of GBX 198 ($2.63).

LondonMetric Property Plc (LON:LMP - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 190.04 ($2.56) and traded as high as GBX 191.90 ($2.58). LondonMetric Property shares last traded at GBX 191.90 ($2.58), with a volume of 3,744,977 shares traded.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of LondonMetric Property in a research note on Wednesday, July 2nd. They issued a "buy" rating and a GBX 230 ($3.09) price objective on the stock.

LondonMetric Property Price Performance

The company's 50 day moving average price is GBX 197.19 and its 200-day moving average price is GBX 190.16. The company has a market cap of £3.90 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 3.27 and a beta of 0.90. The company has a debt-to-equity ratio of 53.84, a quick ratio of 0.81 and a current ratio of 0.68.

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 research analysts forecast that LondonMetric Property Plc will post 13.7260274 earnings per share for the current fiscal year.

Insider Activity at LondonMetric Property

In related news, insider Andrew Jones sold 236,495 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of GBX 198 ($2.66), for a total value of £468,260.10 ($629,720.41). Also, insider Martin McGann sold 122,555 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of GBX 198 ($2.66), for a total transaction of £242,658.90 ($326,329.88). 6.29% of the stock is currently owned by corporate insiders.

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.