Derwent London (LON:DLN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Derwent London Plc (LON:DLN)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,760.65 and traded as high as GBX 1,958. Derwent London shares last traded at GBX 1,934.79, with a volume of 595,075 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,492 price objective on shares of Derwent London in a research note on Wednesday. Stifel Nicolaus reduced their target price on Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 1,850 price target on shares of Derwent London in a research report on Wednesday, May 13th. Berenberg Bank cut their price target on shares of Derwent London from GBX 2,296 to GBX 2,210 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, UBS Group reiterated a “sell” rating and set a GBX 1,650 price objective on shares of Derwent London in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 1,956.50.

Derwent London Trading Up 1.6%

The company has a market cap of £2.23 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 23.10 and a beta of 1.19. The firm has a 50-day moving average price of GBX 1,797 and a 200 day moving average price of GBX 1,765.51. The company has a current ratio of 0.59, a quick ratio of 0.38 and a debt-to-equity ratio of 43.37.

Derwent London declared that its board has approved a share repurchase program on Tuesday, May 12th that allows the company to repurchase 0 shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Derwent London

In related news, insider Paul M. Williams sold 3,458 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of GBX 1,603, for a total transaction of £55,431.74. Also, insider Emily Prideaux sold 2,469 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total transaction of £39,578.07. Insiders sold a total of 8,694 shares of company stock worth $13,936,482 over the last 90 days. Insiders own 0.43% of the company’s stock.

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.