Derwent London (LON:DLN) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Derwent London Plc (LON:DLN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,760.65 and traded as high as GBX 1,958. Derwent London shares last traded at GBX 1,934.79, with a volume of 595,075 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DLN shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 1,850 price target on shares of Derwent London in a research note on Wednesday, May 13th. Stifel Nicolaus cut their target price on shares of 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 on the stock in a report on Monday, March 30th. Jefferies Financial Group restated an “underperform” rating and issued a GBX 1,492 price target on shares of Derwent London in a research note on Thursday, June 11th. Finally, UBS Group reiterated a “sell” rating and set a GBX 1,650 price objective on shares of Derwent London in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of GBX 1,956.50.

Derwent London Stock Performance

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 company has a market cap of £2.17 billion, a PE ratio of 13.48, a P/E/G ratio of 23.10 and a beta of 1.19. The business’s fifty day moving average is GBX 1,788.24 and its 200-day moving average is GBX 1,760.65.

Derwent London announced that its Board of Directors has approved a share buyback plan on Tuesday, May 12th that allows the company to buyback 0 shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Damian Wisniewski sold 2,767 shares of Derwent London stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of GBX 1,603, for a total transaction of £44,355.01. Also, insider Paul M. Williams sold 3,458 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of GBX 1,603, for a total transaction of £55,431.74. Over the last ninety days, insiders have sold 8,694 shares of company stock worth $13,936,482. Company insiders own 0.43% of the company’s stock.

About Derwent London

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.