Derwent London (LON:DLN) Stock Passes Above 200 Day Moving Average – Here’s Why

Derwent London Plc (LON:DLN)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,763.55 and traded as high as GBX 1,911. Derwent London shares last traded at GBX 1,899, with a volume of 330,775 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently commented on DLN shares. Shore Capital Group reaffirmed a “buy” rating on shares of Derwent London in a research note on Thursday, November 6th. JPMorgan Chase & Co. lowered Derwent London to a “neutral” rating and lowered their price target for the company from GBX 2,400 to GBX 2,100 in a research report on Friday, November 28th. Finally, Berenberg Bank increased their price objective on Derwent London from GBX 2,236 to GBX 2,296 and gave the stock a “buy” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Derwent London presently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,228.67.

Derwent London Price Performance

The business’s 50 day moving average price is GBX 1,792.47 and its two-hundred day moving average price is GBX 1,763.55. The stock has a market cap of £2.07 billion, a P/E ratio of 8.73, a price-to-earnings-growth ratio of 23.10 and a beta of 1.03. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 40.68.

Derwent London Company Profile

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.