Derwent London (DLN) Now Covered by Royal Bank of Canada
Royal Bank of Canada initiated coverage on shares of Derwent London (LON:DLN) in a research report sent to investors on Tuesday. The brokerage issued an underperform rating and a GBX 2,500 ($32.67) price target on the real estate investment trust’s stock.
Other equities analysts also recently issued reports about the stock. Barclays downgraded shares of Derwent London to an equal weight rating and reduced their target price for the stock from GBX 3,100 ($40.51) to GBX 2,900 ($37.89) in a research note on Tuesday, December 11th. Liberum Capital reaffirmed a hold rating on shares of Derwent London in a research note on Wednesday, December 5th. Peel Hunt reaffirmed a hold rating on shares of Derwent London in a research note on Friday, November 23rd. Finally, HSBC raised shares of Derwent London to a hold rating in a research note on Thursday, January 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Derwent London has an average rating of Hold and a consensus target price of GBX 3,059.85 ($39.98).
Shares of DLN stock opened at GBX 3,162 ($41.32) on Tuesday. Derwent London has a 12 month low of GBX 2,574 ($33.63) and a 12 month high of GBX 3,133 ($40.94).
Derwent London plc owns 87 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion (including joint ventures) as at 31 December 2017, making it the largest London-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.
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