British Land (LON:BLND) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• British Land shares crossed above their 200-day moving average, reaching GBX 407.61 before closing at GBX 402.20 on trading volume of approximately 2.82 million shares.
• Analyst sentiment remains mixed: four analysts rate the stock Buy, five Hold and one Sell. The consensus rating is Hold, with an average price target of GBX 446.44.
• Insider David Walker purchased 21,148 shares at GBX 422 each, while company insiders acquired roughly £9 million worth of shares over the past three months.

British Land Company PLC (LON:BLND - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 402.73 and traded as high as GBX 407.61. British Land shares last traded at GBX 402.20, with a volume of 2,816,345 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of British Land from GBX 440 to GBX 430 and set a "neutral" rating on the stock in a research report on Tuesday, June 9th. Berenberg Bank boosted their price objective on British Land from GBX 531 to GBX 534 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group reissued an "underperform" rating and set a GBX 305 price objective on shares of British Land in a report on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of GBX 446.44.

British Land Price Performance

The stock has a market cap of £4.12 billion, a P/E ratio of 8.88, a P/E/G ratio of 6.76 and a beta of 1.18. The company has a debt-to-equity ratio of 52.34, a quick ratio of 0.25 and a current ratio of 0.15. The business has a 50 day simple moving average of GBX 426.22 and a 200-day simple moving average of GBX 402.73.

Insider Transactions at British Land

In other British Land news, insider David Walker bought 21,148 shares of the business's stock in a transaction on Friday, June 26th. The stock was purchased at an average price of GBX 422 per share, for a total transaction of £89,244.56. Insiders acquired 21,289 shares of company stock valued at $8,984,630 over the last three months. Company insiders own 0.52% of the company's stock.

British Land Company Profile

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & London Urban Logistics assets throughout the UK. We own or manage a portfolio valued at £13.0bn (British Land share: £8.9bn) as at 31 March 2023 making us one of Europe's largest listed real estate investment companies. We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.

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