The Goldman Sachs Group Lowers British Land (LON:BLND) Price Target to GBX 470

Key Points

• Goldman Sachs lowered its price target on British Land from GBX 510 to GBX 470 but kept a "buy" rating, implying roughly a 31.8% upside from the prior close.
• Analyst views are mixed: the average consensus is a "Hold" with an average price target of GBX 447.20, based on 3 Buys, 2 Holds and 1 Sell.
• Shares traded at GBX 356.60 mid-day (below analyst targets); the company has a market cap of £3.57bn, a P/E of 7.91, a 52‑week range of GBX 318.60–432, and insiders recently made small purchases (insiders own 0.48%).

British Land (LON:BLND - Get Free Report) had its target price dropped by investment analysts at The Goldman Sachs Group from GBX 510 to GBX 470 in a research note issued on Monday,London Stock Exchange reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 31.80% from the company's previous close.

BLND has been the topic of several other research reports. Shore Capital Group restated a "hold" rating on shares of British Land in a research report on Thursday, January 29th. Berenberg Bank increased their price objective on British Land from GBX 506 to GBX 539 and gave the company a "buy" rating in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, British Land currently has an average rating of "Hold" and an average price target of GBX 447.20.

British Land Price Performance

Shares of BLND traded up GBX 13.40 during mid-day trading on Monday, hitting GBX 356.60. The company's stock had a trading volume of 3,794,053 shares, compared to its average volume of 14,929,800. The company has a debt-to-equity ratio of 47.52, a current ratio of 0.28 and a quick ratio of 0.25. The firm has a 50-day moving average price of GBX 395.05 and a 200 day moving average price of GBX 385.63. British Land has a fifty-two week low of GBX 318.60 and a fifty-two week high of GBX 432. The stock has a market capitalization of £3.57 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 6.76 and a beta of 1.17.

Insider Activity

In other news, insider Mark Aedy purchased 2,475 shares of the business's stock in a transaction dated Monday, January 5th. The shares were acquired at an average price of GBX 394 per share, for a total transaction of £9,751.50. Insiders have purchased a total of 2,705 shares of company stock worth $1,064,518 in the last quarter. 0.48% of the stock is owned by insiders.

About British Land

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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