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

Derwent London Plc (LON:DLN)’s share price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 1,875.08 and traded as high as GBX 1,899. Derwent London shares last traded at GBX 1,874, with a volume of 11,418,870 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Berenberg Bank lowered their price target on Derwent London from GBX 2,210 to GBX 2,071 and set a “buy” rating for the company in a research note on Monday, September 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 1,850 price objective on shares of Derwent London in a report on Friday, August 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 1,655 price objective on shares of Derwent London in a research report on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 1,912.29.

Derwent London Price Performance

The stock has a market capitalization of £2.06 billion, a P/E ratio of 43.83, a PEG ratio of 23.10 and a beta of 1.19. The stock’s fifty day moving average is GBX 1,887.50 and its 200-day moving average is GBX 1,875.08. The company has a debt-to-equity ratio of 41.50, a current ratio of 1.12 and a quick ratio of 0.38.

Derwent London (LON:DLN) last posted its earnings results on Friday, August 7th. The real estate investment trust reported GBX (16.59) EPS for the quarter. Derwent London had a return on equity of 1.35% and a net margin of 11.97%. On average, equities analysts anticipate that Derwent London Plc will post 113.74 earnings per share for the current year.

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.