Derwent London (LON:DLN) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Derwent London Plc (LON:DLN)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,738.22 and traded as high as GBX 1,861.98. Derwent London shares last traded at GBX 1,843, with a volume of 278,255 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on DLN shares. Jefferies Financial Group reissued an “underperform” rating and set a GBX 1,492 price objective on shares of Derwent London in a research report on Tuesday, May 12th. UBS Group reaffirmed a “sell” rating and issued a GBX 1,650 price target on shares of Derwent London in a research report on Monday, May 11th. Stifel Nicolaus lowered their price target on Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating for the company in a research report on Tuesday, March 31st. The Goldman Sachs Group lowered their price target on Derwent London from GBX 2,550 to GBX 2,410 and set a “buy” rating for the company in a research report on Monday, March 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 1,850 price target on shares of Derwent London in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Derwent London presently has a consensus rating of “Hold” and an average target price of GBX 1,956.50.

Derwent London Price Performance

The firm has a fifty day moving average of GBX 1,723.97 and a 200 day moving average of GBX 1,738.22. The company has a market capitalization of £2.07 billion, a P/E ratio of 12.84, a P/E/G ratio of 23.10 and a beta of 1.19. The company has a current ratio of 0.59, a quick ratio of 0.38 and a debt-to-equity ratio of 43.37.

Derwent London announced that its board has approved a stock repurchase program on Tuesday, May 12th that allows the company to repurchase 0 shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Damian Wisniewski sold 2,767 shares of Derwent London stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total value of £44,355.01. Also, insider Paul M. Williams sold 3,458 shares of Derwent London stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total value of £55,431.74. In the last ninety days, insiders sold 8,694 shares of company stock worth $13,936,482. 0.43% of the stock is owned by corporate insiders.

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.