British Land (LON:BLND) Sets New 1-Year High – Time to Buy?

Shares of British Land Company PLC (LON:BLND) hit a new 52-week high on Wednesday . The stock traded as high as GBX 432 and last traded at GBX 427.80, with a volume of 11572276 shares trading hands. The stock had previously closed at GBX 418.

Wall Street Analyst Weigh In

BLND has been the topic of a number of analyst reports. Berenberg Bank upped their price objective on shares of British Land from GBX 506 to GBX 539 and gave the company a “buy” rating in a research note on Monday, January 26th. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 308 price target on shares of British Land in a research report on Thursday, November 20th. Peel Hunt reissued a “buy” rating and issued a GBX 495 price objective on shares of British Land in a research report on Wednesday, October 15th. Panmure Gordon reissued a “hold” rating and issued a GBX 424 price objective on shares of British Land in a research note on Thursday, November 20th. Finally, Shore Capital reaffirmed a “hold” rating on shares of British Land in a research note on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 441.50.

British Land Price Performance

The company has a quick ratio of 0.25, a current ratio of 0.59 and a debt-to-equity ratio of 44.14. The business’s 50 day simple moving average is GBX 401.83 and its two-hundred day simple moving average is GBX 373.81. The stock has a market capitalization of £4.28 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 6.76 and a beta of 1.55.

British Land (LON:BLND) last posted its earnings results on Wednesday, November 19th. The company reported GBX 15.40 earnings per share for the quarter. British Land had a net margin of 171.35% and a return on equity of 18.53%. As a group, sell-side analysts forecast that British Land Company PLC will post 29.375 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mark Aedy purchased 2,475 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was acquired at an average price of GBX 394 per share, for a total transaction of £9,751.50. Insiders purchased a total of 2,627 shares of company stock worth $1,034,254 over the last 90 days. 0.55% of the stock is owned by insiders.

About British Land

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.