British Land (LON:BLND) Reaches New 1-Year High – Here’s What Happened

British Land Company PLC (LON:BLND) reached a new 52-week high during trading on Thursday . The stock traded as high as GBX 433.20 and last traded at GBX 432.60, with a volume of 3068667 shares traded. The stock had previously closed at GBX 424.80.

Wall Street Analyst Weigh In

BLND has been the topic of several analyst reports. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 305 price target on shares of British Land in a report on Tuesday, June 2nd. The Goldman Sachs Group decreased their price target on British Land from GBX 510 to GBX 470 and set a “buy” rating for the company in a research note on Monday, March 30th. UBS Group restated a “neutral” rating and set a GBX 440 price target on shares of British Land in a research note on Monday, May 18th. Shore Capital Group reissued a “hold” rating on shares of British Land in a research report on Tuesday, April 21st. Finally, Berenberg Bank lifted their price objective on shares of British Land from GBX 531 to GBX 534 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, British Land has a consensus rating of “Hold” and an average price target of GBX 446.44.

British Land Stock Performance

The firm’s fifty day simple moving average is GBX 405.46 and its 200 day simple moving average is GBX 397.26. The company has a market capitalization of £4.51 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 6.76 and a beta of 1.18. The company has a debt-to-equity ratio of 52.34, a current ratio of 0.15 and a quick ratio of 0.25.

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

Insider Activity

In other British Land news, insider Raj Shah bought 25,300 shares of British Land stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of GBX 393 per share, with a total value of £99,429. Also, insider Amanda Mackenzie purchased 18,853 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average cost of GBX 396 per share, for a total transaction of £74,657.88. In the last 90 days, insiders acquired 65,448 shares of company stock valued at $27,879,719. Insiders own 0.47% of the company’s stock.

British Land Company Profile

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.