Derwent London (LON:DLN) to Repurchase 0 Shares

Derwent London (LON:DLN) declared that its Board of Directors has initiated a share buyback program on Tuesday, May 12th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

DLN has been the subject of several research reports. The Goldman Sachs Group reduced 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 research note on Monday, March 30th. Berenberg Bank reduced their price target on Derwent London from GBX 2,296 to GBX 2,210 and set a “buy” rating for the company in a research report on Wednesday, April 1st. 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 Tuesday. UBS Group reiterated a “sell” rating and set a GBX 1,650 price objective on shares of Derwent London in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Derwent London from GBX 2,000 to GBX 1,850 and set a “hold” rating for the company in a research note on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of GBX 1,956.50.

Derwent London Price Performance

Shares of LON DLN traded down GBX 36 during midday trading on Tuesday, reaching GBX 1,690. The company’s stock had a trading volume of 395,793 shares, compared to its average volume of 1,098,080. The company has a market cap of £1.90 billion, a P/E ratio of 11.78, a P/E/G ratio of 23.10 and a beta of 1.19. Derwent London has a fifty-two week low of GBX 1,469.33 and a fifty-two week high of GBX 2,106. The company has a debt-to-equity ratio of 43.37, a quick ratio of 0.38 and a current ratio of 0.59. The business’s 50 day moving average price is GBX 1,674.48 and its two-hundred day moving average price is GBX 1,739.16.

Derwent London (LON:DLN) last posted its quarterly earnings results on Thursday, February 26th. The real estate investment trust reported GBX 98.40 EPS for the quarter. Derwent London had a return on equity of 4.48% and a net margin of 40.73%. On average, analysts forecast that Derwent London will post 113.7351779 EPS for the current fiscal year.

Insider Activity

In related news, insider Emily Prideaux sold 2,469 shares of the 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 £39,578.07. Also, insider Damian Wisniewski sold 2,767 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total transaction of £44,355.01. In the last three months, insiders have sold 8,694 shares of company stock valued at $13,936,482. 0.40% of the stock is currently owned by insiders.

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.