Derwent London (LON:DLN) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Derwent London shares moved above their 200-day moving average, reaching GBX 1,978 before last trading at GBX 1,951 on volume of 289,701 shares.
• Analyst sentiment remains mixed: Berenberg maintained a buy rating with a GBX 2,210 target, while Deutsche Bank, Jefferies and UBS retained hold, underperform or sell ratings. The consensus rating is Hold, with an average target of GBX 1,956.50.
• The property-focused REIT reported quarterly earnings of GBX (16.59) per share, alongside a 1.35% return on equity and 11.97% net margin; its portfolio comprises 66 central London buildings valued at £4.9 billion.

Derwent London Plc (LON:DLN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,837.98 and traded as high as GBX 1,978. Derwent London shares last traded at GBX 1,951, with a volume of 289,701 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DLN shares. Berenberg Bank reaffirmed a "buy" rating and set a GBX 2,210 target price on shares of Derwent London in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 1,850 price target on shares of Derwent London in a research report on Friday, August 7th. Jefferies Financial Group restated an "underperform" rating and set a GBX 1,492 price objective on shares of Derwent London in a research report on Wednesday, July 1st. Finally, UBS Group restated a "sell" rating and set a GBX 1,650 price objective on shares of Derwent London in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of GBX 1,956.50.

Derwent London Price Performance

The company has a fifty day simple moving average of GBX 2,037.25 and a 200-day simple moving average of GBX 1,837.98. The company has a market cap of £2.16 billion, a P/E ratio of 13.59, a PEG ratio of 23.10 and a beta of 1.19. The company has a debt-to-equity ratio of 41.50, a current ratio of 1.12 and a quick ratio of 0.38.

Derwent London (LON:DLN - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The real estate investment trust reported GBX (16.59) earnings per share for the quarter. Derwent London had a return on equity of 1.35% and a net margin of 11.97%. On average, sell-side analysts predict that Derwent London Plc will post 113.7351779 earnings per share for the current year.

Derwent London announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 12th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Derwent London Company Profile

Derwent London plc owns 66 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion as at 31 December 2023, making it the largest London office-focused real estate investment trust (REIT). Our experienced team has a long track record of creating value throughout the property cycle by regenerating our buildings via development or refurbishment, effective asset management and capital recycling. We typically acquire central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or the Tech Belt.

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