Derwent London (LON:DLN) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Derwent London Plc (LON:DLN)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,826.18 and traded as high as GBX 2,138. Derwent London shares last traded at GBX 2,096, with a volume of 173,626 shares.

Analysts Set New Price Targets

DLN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 1,850 price objective on shares of Derwent London in a research report on Friday, August 7th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,210 target price on shares of Derwent London in a research report on Thursday, August 6th. UBS Group reaffirmed a “sell” rating and issued a GBX 1,650 target price on shares of Derwent London in a research report on Monday, May 11th. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,492 price target on shares of Derwent London in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of GBX 1,956.50.

Derwent London Trading Up 0.4%

The stock has a market cap of £2.33 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 23.10 and a beta of 1.19. The company has a debt-to-equity ratio of 41.50, a quick ratio of 0.38 and a current ratio of 1.12. The company’s 50 day simple moving average is GBX 1,992.99 and its two-hundred day simple moving average is GBX 1,826.18.

Derwent London (LON:DLN) last issued its earnings results on Friday, August 7th. The real estate investment trust reported GBX (16.59) earnings per share (EPS) for the quarter. Derwent London had a net margin of 11.97% and a return on equity of 1.35%. Research analysts expect that Derwent London Plc will post 113.7351779 EPS for the current fiscal year.

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

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.