Derwent London Plc (LON:DLN) Receives Average Recommendation of “Hold” from Brokerages

Derwent London Plc (LON:DLN) has earned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is GBX 1,956.50.

A number of research firms recently issued reports on DLN. UBS Group restated a “sell” rating and set a GBX 1,650 price objective on shares of Derwent London in a report on Monday, May 11th. Stifel Nicolaus decreased their price objective on shares of Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating for the company in a report on Tuesday, March 31st. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,492 price objective on shares of Derwent London in a report on Tuesday, May 12th. Berenberg Bank decreased their price objective on shares of Derwent London from GBX 2,296 to GBX 2,210 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 1,850 price objective on shares of Derwent London in a report on Wednesday, May 13th.

Derwent London Stock Up 2.7%

DLN opened at GBX 1,893 on Friday. The company has a debt-to-equity ratio of 43.37, a current ratio of 0.59 and a quick ratio of 0.38. The company’s 50-day moving average is GBX 1,729.74 and its 200 day moving average is GBX 1,739.30. Derwent London has a fifty-two week low of GBX 1,469.33 and a fifty-two week high of GBX 2,106. The firm has a market capitalization of £2.12 billion, a P/E ratio of 13.19, a PEG ratio of 23.10 and a beta of 1.19.

Derwent London announced that its board has initiated a share repurchase program on Tuesday, May 12th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Damian Wisniewski sold 2,767 shares of the firm’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. Also, insider Paul M. Williams sold 3,458 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total transaction of £55,431.74. Over the last 90 days, insiders sold 8,694 shares of company stock worth $13,936,482. Insiders own 0.43% of the company’s stock.

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.