Derwent London (LON:DLN) Downgraded to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Derwent London (LON:DLN) to an underweight rating in a research report sent to investors on Monday morning, ThisIsMoney.Co.Uk reports.

DLN has been the subject of several other research reports. Berenberg Bank increased their price target on shares of Derwent London from GBX 2,650 ($34.63) to GBX 2,800 ($36.59) and gave the company a sell rating in a research report on Wednesday, October 9th. Liberum Capital reaffirmed a hold rating on shares of Derwent London in a research report on Thursday, November 7th. Peel Hunt reiterated a hold rating on shares of Derwent London in a research note on Tuesday, November 26th. Morgan Stanley raised shares of Derwent London to an overweight rating and increased their target price for the company from GBX 3,300 ($43.12) to GBX 3,850 ($50.31) in a research report on Thursday, November 28th. Finally, Barclays reissued an underweight rating on shares of Derwent London in a research report on Wednesday, November 27th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Derwent London currently has a consensus rating of Hold and an average price target of GBX 3,283.92 ($42.91).

Shares of LON:DLN opened at GBX 3,600 ($47.04) on Monday. The company’s 50-day moving average is GBX 3,585.64 and its 200 day moving average is GBX 3,265.29. The company has a debt-to-equity ratio of 23.91, a quick ratio of 0.57 and a current ratio of 1.13. The company has a market capitalization of $4.03 billion and a P/E ratio of 18.28. Derwent London has a fifty-two week low of GBX 2,775 ($36.26) and a fifty-two week high of GBX 3,694 ($48.27).

In related news, insider Simon P. Silver sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of GBX 3,494 ($45.66), for a total value of £349,400 ($456,552.99). Also, insider John David Burns sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of GBX 3,526 ($46.07), for a total transaction of £5,289,000 ($6,911,015.29). Insiders sold a total of 250,183 shares of company stock worth $864,600,305 over the last 90 days.

About Derwent London

Derwent London plc owns 86 buildings in a commercial real estate portfolio predominantly in central London valued at £5.2 billion (including joint ventures) as at 31 December 2018, making it the largest London-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.

Further Reading: Operating Income

Analyst Recommendations for Derwent London (LON:DLN)

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