Derwent London (LON:DLN) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Derwent London Plc (LON:DLN) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,732.69 and traded as high as GBX 1,797. Derwent London shares last traded at GBX 1,763, with a volume of 360,920 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DLN. Berenberg Bank decreased their target price on shares of Derwent London from GBX 2,296 to GBX 2,210 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 1,850 target price on shares of Derwent London in a report on Wednesday, May 13th. UBS Group reiterated a “sell” rating and issued a GBX 1,650 price target on shares of Derwent London in a research note on Monday, May 11th. Stifel Nicolaus dropped their price objective on shares of Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating for the company in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of Derwent London from GBX 2,550 to GBX 2,410 and set a “buy” rating for the company in a report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of GBX 1,956.50.

Derwent London Trading Up 0.2%

The company has a quick ratio of 0.38, a current ratio of 0.59 and a debt-to-equity ratio of 43.37. The firm has a market cap of £1.98 billion, a P/E ratio of 12.28, a P/E/G ratio of 23.10 and a beta of 1.19. The company’s 50 day simple moving average is GBX 1,690.93 and its 200-day simple moving average is GBX 1,732.69.

Derwent London announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 12th that permits the company to repurchase 0 shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Paul M. Williams sold 3,458 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of GBX 1,603, for a total transaction of £55,431.74. Also, insider Emily Prideaux sold 2,469 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total transaction of £39,578.07. Insiders sold a total of 8,694 shares of company stock valued at $13,936,482 over the last 90 days. Insiders own 0.40% of the company’s stock.

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.