British Land (LON:BLND) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of British Land Company PLC (LON:BLND) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 394.77 and traded as high as GBX 419.20. British Land shares last traded at GBX 417.20, with a volume of 997,056 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on BLND. JPMorgan Chase & Co. dropped their price objective on British Land from GBX 440 to GBX 430 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Berenberg Bank boosted their target price on British Land from GBX 531 to GBX 534 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Jefferies Financial Group restated an “underperform” rating and issued a GBX 305 target price on shares of British Land in a research note on Tuesday, June 2nd. Shore Capital Group reiterated a “hold” rating on shares of British Land in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group decreased their price objective on British Land from GBX 510 to GBX 470 and set a “buy” rating for the company in a report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of GBX 446.44.

British Land Stock Performance

The company has a market capitalization of £4.27 billion, a P/E ratio of 9.21, a P/E/G ratio of 6.76 and a beta of 1.18. The company has a current ratio of 0.15, a quick ratio of 0.25 and a debt-to-equity ratio of 52.34. The company’s fifty day moving average is GBX 398.28 and its 200 day moving average is GBX 394.77.

British Land (LON:BLND) last issued its earnings results on Wednesday, May 20th. The company reported GBX 28.90 earnings per share (EPS) for the quarter. The business had revenue of £523 million for the quarter. British Land had a net margin of 86.48% and a return on equity of 7.73%. As a group, equities analysts anticipate that British Land Company PLC will post 29.375 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Raj Shah bought 25,300 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of GBX 393 per share, for a total transaction of £99,429. Also, insider Simon Carter bought 36 shares of British Land stock in a transaction on Monday, June 15th. The shares were bought at an average cost of £417.20 per share, with a total value of £15,019.20. In the last 90 days, insiders have purchased 65,456 shares of company stock valued at $27,880,407. 0.47% of the stock is owned by company 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.