Derwent London’s (DLN) “Underperform” Rating Reaffirmed at Jefferies Financial Group

Derwent London (LON:DLN)‘s stock had its “underperform” rating reiterated by equities research analysts at Jefferies Financial Group in a research note issued on Wednesday,Digital Look reports. They currently have a GBX 1,492 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target would indicate a potential downside of 22.93% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating for the company in a research report on Tuesday, March 31st. UBS Group reaffirmed a “sell” rating and issued a GBX 1,650 price objective on shares of Derwent London in a research report on Monday, May 11th. The Goldman Sachs Group dropped their target price on shares of Derwent London from GBX 2,550 to GBX 2,410 and set a “buy” rating on the stock in a research note on Monday, March 30th. Berenberg Bank reduced their target price on shares of Derwent London from GBX 2,296 to GBX 2,210 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 1,850 price target on shares of Derwent London in a research note on Wednesday, May 13th. 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 MarketBeat.com, Derwent London has a consensus rating of “Hold” and a consensus price target of GBX 1,956.50.

Derwent London Stock Performance

Shares of Derwent London stock traded down GBX 5 during trading hours on Wednesday, hitting GBX 1,936. 614,230 shares of the company’s stock traded hands, compared to its average volume of 2,439,409. Derwent London has a 12-month low of GBX 1,469.33 and a 12-month high of GBX 2,106. The stock has a market capitalization of £2.17 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 23.10 and a beta of 1.19. The company has a fifty day simple moving average of GBX 1,788.24 and a 200-day simple moving average of GBX 1,760.65. 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 announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 12th that permits the company to repurchase 0 shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity 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 stock was sold at an average price of GBX 1,603, for a total value of £55,431.74. Also, insider Damian Wisniewski sold 2,767 shares of the company’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 £44,355.01. In the last three months, insiders have sold 8,694 shares of company stock worth $13,936,482. Company insiders own 0.43% of the company’s stock.

Derwent London Company Profile

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.