Derwent London (LON:DLN) Posts Quarterly Earnings Results

Derwent London (LON:DLN) released its quarterly earnings results on Friday. The real estate investment trust reported GBX (16.59) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Derwent London had a return on equity of 4.48% and a net margin of 40.73%.

Derwent London Trading Up 2.2%

Shares of DLN opened at GBX 2,100 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.38 and a debt-to-equity ratio of 43.37. The stock has a market cap of £2.33 billion, a PE ratio of 14.63, a PEG ratio of 23.10 and a beta of 1.19. Derwent London has a 1 year low of GBX 1,469.33 and a 1 year high of GBX 2,196. The stock has a 50 day simple moving average of GBX 1,961.31 and a 200-day simple moving average of GBX 1,819.58.

Derwent London declared that its board has initiated a stock buyback program on Tuesday, May 12th that allows the company to repurchase 0 shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DLN. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 1,492 target price on shares of Derwent London in a research report on Wednesday, July 1st. UBS Group restated a “sell” rating and issued a GBX 1,650 price objective on shares of Derwent London in a research note on Monday, May 11th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 2,210 price objective on shares of Derwent London in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 1,850 target price on shares of Derwent London in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of GBX 1,956.50.

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.