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

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 began coverage on shares of LondonMetric Property in a research report on Wednesday, July 2nd. They issued a "buy" rating and a GBX 230 ($3.09) price target for the company.

LondonMetric Property Stock Performance

The business has a 50-day moving average price of GBX 197 and a 200-day moving average price of GBX 190.29. The firm has a market capitalization of £3.90 billion, a price-to-earnings ratio of 19.76, a P/E/G 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.

LondonMetric Property (LON:LMP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported GBX 15.73 ($0.21) earnings per share (EPS) for the quarter. LondonMetric Property had a return on equity of 3.87% and a net margin of 66.69%. As a group, sell-side analysts forecast that LondonMetric Property Plc will post 13.7260274 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 ($2.66), for a total transaction of £242,658.90 ($326,373.77). Also, 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 ($2.66), for a total value of £468,260.10 ($629,805.11). 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.