British Land (LON:BLND) had its price objective cut by investment analysts at Deutsche Bank from GBX 620 ($8.10) to GBX 600 ($7.84) in a report issued on Friday, ThisIsMoney.Co.Uk reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank’s price objective would indicate a potential upside of 10.33% from the company’s previous close.
Several other research analysts also recently weighed in on the company. Liberum Capital reaffirmed a “hold” rating and set a GBX 585 ($7.64) target price on shares of British Land in a research note on Wednesday, May 15th. UBS Group reaffirmed a “buy” rating on shares of British Land in a research note on Friday, May 10th. Peel Hunt reaffirmed a “hold” rating on shares of British Land in a research note on Tuesday, June 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of British Land in a research note on Wednesday, May 1st. Finally, Morgan Stanley reduced their target price on British Land from GBX 640 ($8.36) to GBX 620 ($8.10) and set an “equal weight” rating for the company in a research note on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of GBX 597.92 ($7.81).
Shares of BLND stock opened at GBX 543.80 ($7.11) on Friday. The company has a debt-to-equity ratio of 37.44, a current ratio of 0.94 and a quick ratio of 0.70. The company has a market cap of $5.17 billion and a PE ratio of -18.13. British Land has a 1-year low of GBX 520 ($6.79) and a 1-year high of GBX 694.40 ($9.07).
In related news, insider Simon Carter bought 7,774 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of GBX 535 ($6.99) per share, with a total value of £41,590.90 ($54,345.88). Also, insider William Jackson bought 2,310 shares of the business’s stock in a transaction on Friday, April 5th. The stock was bought at an average cost of GBX 599 ($7.83) per share, with a total value of £13,836.90 ($18,080.36). Over the last three months, insiders purchased 10,135 shares of company stock valued at $5,572,600.
About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £16.8bn (British Land share: £12.9bn) as at 30 September 2018 making us one of Europe's largest listed real estate investment companies. Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer.
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