Derwent London (LON:DLN) Releases Quarterly Earnings Results

Derwent London (LON:DLN) posted its quarterly earnings results on Friday. The real estate investment trust reported GBX (16.59) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Derwent London had a return on equity of 4.48% and a net margin of 40.73%.

Derwent London Stock Performance

DLN traded up GBX 46 during trading on Friday, hitting GBX 2,100. The company’s stock had a trading volume of 329,223 shares, compared to its average volume of 2,052,347. The business’s 50 day simple moving average is GBX 1,954.87 and its 200-day simple moving average is GBX 1,817.61. The firm has a market cap of £2.34 billion, a PE ratio of 14.63, a P/E/G ratio of 23.10 and a beta of 1.19. Derwent London has a one year low of GBX 1,469.33 and a one year high of GBX 2,196. The company has a quick ratio of 0.38, a current ratio of 0.59 and a debt-to-equity ratio of 43.37.

Derwent London announced that its Board of Directors has approved a share buyback plan on Tuesday, May 12th that allows the company to buyback 0 shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DLN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 1,850 price target on shares of Derwent London in a report on Friday. UBS Group reissued a “sell” rating and set a GBX 1,650 price objective on shares of Derwent London in a report on Monday, May 11th. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,492 price objective on shares of Derwent London in a research report on Wednesday, July 1st. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 2,210 target price on shares of Derwent London in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of GBX 1,956.50.

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.