Derwent London (LON:DLN) Shares Cross Above 200 Day Moving Average – What’s Next?

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 1,790.32 and traded as high as GBX 2,070. Derwent London shares last traded at GBX 2,046, with a volume of 231,681 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,492 price objective on shares of Derwent London in a research note on Wednesday, July 1st. Stifel Nicolaus cut their price target on shares of Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating on the stock in a report on Tuesday, March 31st. UBS Group reissued a “sell” rating and set a GBX 1,650 price target on shares of Derwent London in a research report on Monday, May 11th. Berenberg Bank decreased their price objective on shares of Derwent London from GBX 2,296 to GBX 2,210 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, The Goldman Sachs Group lowered their price objective on Derwent London from GBX 2,550 to GBX 2,410 and set a “buy” rating on the stock in a research report on Monday, March 30th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Derwent London has a consensus rating of “Hold” and a consensus price target of GBX 1,956.50.

Derwent London Price Performance

The business’s 50 day moving average price is GBX 1,855.67 and its 200 day moving average price is GBX 1,790.32. The stock has a market capitalization of £2.28 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 23.10 and a beta of 1.19. The company has a debt-to-equity ratio of 43.37, a current ratio of 0.59 and a quick ratio of 0.38.

Derwent London declared that its board has initiated a share repurchase program on Tuesday, May 12th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication 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.