British Land (LON:BLND) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• British Land shares rose 0.8% and crossed above the 200-day moving average of GBX 402.53, reaching GBX 436.60 before last trading at GBX 432.20.
• Analyst opinions remain mixed, with four Buy, five Hold, and one Sell ratings; the consensus is Hold with a GBX 446.44 price target.
• Insiders have purchased 65,478 shares worth approximately $27.9 million over the past 90 days, although insiders own only 0.52% of the company.

British Land Company PLC (LON:BLND - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 402.53 and traded as high as GBX 436.60. British Land shares last traded at GBX 432.20, with a volume of 196,902,359 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BLND shares. JPMorgan Chase & Co. reduced their target price on British Land from GBX 440 to GBX 430 and set a "neutral" rating for the company in a report on Tuesday, June 9th. Stifel Nicolaus reissued a "hold" rating and issued a GBX 410 price target on shares of British Land in a report on Wednesday, May 20th. Jefferies Financial Group restated an "underperform" rating and issued a GBX 305 price objective on shares of British Land in a research report on Tuesday, June 2nd. Berenberg Bank boosted their price objective on shares of British Land from GBX 531 to GBX 534 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Finally, UBS Group reaffirmed a "neutral" rating and set a GBX 440 target price on shares of British Land in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, British Land currently has a consensus rating of "Hold" and a consensus price target of GBX 446.44.

British Land Stock Up 0.8%

The company has a 50 day moving average of GBX 427.77 and a 200-day moving average of GBX 402.53. The company has a debt-to-equity ratio of 52.34, a current ratio of 0.15 and a quick ratio of 0.25. The company has a market cap of £4.43 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 6.76 and a beta of 1.18.

Insiders Place Their Bets

In other British Land news, insider Raj Shah purchased 25,300 shares of the company's stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of GBX 393 per share, for a total transaction of £99,429. Also, insider Simon Carter acquired 36 shares of the business's stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of £417.20 per share, with a total value of £15,019.20. In the last 90 days, insiders have bought 65,478 shares of company stock worth $27,895,238. 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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