British Land (LON:BLND) Hits New 12-Month High – What’s Next?

British Land Company PLC (LON:BLND)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as GBX 451.60 and last traded at GBX 448, with a volume of 414952969 shares changing hands. The stock had previously closed at GBX 448.20.

Analysts Set New Price Targets

BLND has been the topic of a number of research analyst reports. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 305 price target on shares of British Land in a research note on Tuesday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a GBX 410 price objective on shares of British Land in a research note on Wednesday, May 20th. JPMorgan Chase & Co. cut their price objective on shares of British Land from GBX 440 to GBX 430 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. UBS Group reissued a “neutral” rating and issued a GBX 440 target price on shares of British Land in a research report on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 510 target price on shares of British Land in a report on Wednesday, April 22nd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of GBX 446.44.

British Land Stock Down 1.1%

The stock has a market cap of £4.54 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 6.76 and a beta of 1.18. The company has a quick ratio of 0.25, a current ratio of 0.15 and a debt-to-equity ratio of 52.34. The stock has a fifty day moving average of GBX 419.95 and a two-hundred day moving average of GBX 400.51.

British Land (LON:BLND) last posted its quarterly earnings results on Wednesday, May 20th. The company reported GBX 28.90 earnings per share (EPS) for the quarter. The firm had revenue of £523 million during the quarter. British Land had a return on equity of 7.73% and a net margin of 86.48%. As a group, analysts predict that British Land Company PLC will post 29.375 EPS for the current fiscal year.

Insider Transactions at British Land

In other British Land news, insider David Walker purchased 21,148 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were purchased at an average price of GBX 422 per share, for a total transaction of £89,244.56. Also, insider Simon Carter purchased 36 shares of British Land stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of £417.20 per share, for a total transaction of £15,019.20. Insiders have acquired a total of 65,448 shares of company stock worth $27,879,719 over the last 90 days. Company insiders own 0.47% of the company’s stock.

About British Land

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & London Urban Logistics assets throughout the UK. We own or manage a portfolio valued at £13.0bn (British Land share: £8.9bn) as at 31 March 2023 making us one of Europe's largest listed real estate investment companies. We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.