British Land (LON:BLND) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of British Land Company PLC (LON:BLND) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 393.38 and traded as high as GBX 422.40. British Land shares last traded at GBX 418, with a volume of 660,331,500 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BLND shares. UBS Group restated a “neutral” rating and issued a GBX 440 target price on shares of British Land in a report on Monday, May 18th. Berenberg Bank upped their price target on shares of British Land from GBX 531 to GBX 534 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Jefferies Financial Group reissued an “underperform” rating and set a GBX 305 price target on shares of British Land in a research report on Tuesday, June 2nd. Shore Capital Group reissued a “hold” rating on shares of British Land in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group decreased their price objective on shares of British Land from GBX 510 to GBX 470 and set a “buy” rating on the stock in a research report on Monday, March 30th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 446.44.

British Land Trading Up 4.1%

The firm has a market cap of £4.28 billion, a PE ratio of 9.23, a PEG ratio of 6.76 and a beta of 1.18. The firm has a fifty day simple moving average of GBX 395.36 and a two-hundred day simple moving average of GBX 393.38. The company has a current ratio of 0.15, a quick ratio of 0.25 and a debt-to-equity ratio of 52.34.

British Land (LON:BLND) last posted its earnings results on Wednesday, May 20th. The company reported GBX 28.90 earnings per share (EPS) for the quarter. British Land had a return on equity of 7.73% and a net margin of 86.48%.The firm had revenue of £523 million for the quarter. Equities analysts forecast that British Land Company PLC will post 29.375 EPS for the current year.

Insiders Place Their Bets

In related news, insider Amanda Mackenzie purchased 18,853 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of GBX 396 per share, for a total transaction of £74,657.88. Also, insider David Walker sold 36,209 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of GBX 420, for a total transaction of £152,077.80. Over the last three months, insiders purchased 44,308 shares of company stock worth $18,955,951. Insiders own 0.47% of the company’s stock.

British Land Company Profile

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.