JPMorgan Chase & Co. Downgrades Derwent London (LON:DLN) to Neutral

Derwent London (LON:DLN) was downgraded by analysts at JPMorgan Chase & Co. to a “neutral” rating in a research report issued on Friday, Marketbeat reports. They presently have a GBX 2,100 target price on the real estate investment trust’s stock, down from their previous target price of GBX 2,400. JPMorgan Chase & Co.‘s target price suggests a potential upside of 23.53% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Peel Hunt decreased their target price on shares of Derwent London from GBX 2,385 to GBX 2,290 and set a “buy” rating on the stock in a report on Thursday, September 18th. Shore Capital reaffirmed a “buy” rating on shares of Derwent London in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Derwent London has a consensus rating of “Moderate Buy” and an average price target of GBX 2,195.

Derwent London Trading Up 0.8%

Shares of DLN traded up GBX 13 during mid-day trading on Friday, reaching GBX 1,700. The stock had a trading volume of 196,773 shares, compared to its average volume of 735,200. The company has a debt-to-equity ratio of 40.68, a current ratio of 0.51 and a quick ratio of 0.38. Derwent London has a 52-week low of GBX 1,602 and a 52-week high of GBX 2,138. The business’s fifty day moving average is GBX 1,741.95 and its 200 day moving average is GBX 1,836.82. The firm has a market cap of £1.91 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 23.10 and a beta of 1.03.

Derwent London Company Profile

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.