Derwent London (LON:DLN) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Derwent London shares rose above their 200-day moving average, reaching GBX 2,078 compared with the average of GBX 1,830.30, on trading volume of 227,906 shares.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy, three rate it Hold and two rate it Sell. The consensus rating is Hold, with an average price target of GBX 1,956.50.
• The company reported quarterly EPS of negative GBX 16.59 and has a £2.31 billion market capitalization. Derwent London owns a 66-building, central London-focused commercial property portfolio valued at £4.9 billion.

Derwent London Plc (LON:DLN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,830.30 and traded as high as GBX 2,078. Derwent London shares last traded at GBX 2,078, with a volume of 227,906 shares changing hands.

Wall Street Analysts Forecast Growth

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

Derwent London Stock Up 1.3%

The company has a quick ratio of 0.38, a current ratio of 1.12 and a debt-to-equity ratio of 41.50. The stock has a 50-day simple moving average of GBX 2,016.67 and a 200-day simple moving average of GBX 1,830.30. The firm has a market capitalization of £2.31 billion, a PE ratio of 14.48, a P/E/G ratio of 23.10 and a beta of 1.19.

Derwent London (LON:DLN - Get Free Report) last issued its earnings results on Friday, August 7th. The real estate investment trust reported GBX (16.59) earnings per share (EPS) for the quarter. Derwent London had a net margin of 11.97% and a return on equity of 1.35%. Analysts forecast that Derwent London Plc will post 113.7351779 EPS for the current year.

Derwent London announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 12th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source