Derwent London’s (DLN) Underperform Rating Reiterated at Royal Bank of Canada

Derwent London (LON:DLNGet Rating)‘s stock had its “underperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a GBX 2,850 ($37.14) target price on the real estate investment trust’s stock. Royal Bank of Canada’s target price would suggest a potential downside of 9.95% from the company’s previous close.

Several other analysts also recently weighed in on DLN. Peel Hunt reaffirmed a “hold” rating and set a GBX 3,700 ($48.21) target price on shares of Derwent London in a research note on Friday, February 11th. Citigroup reaffirmed a “sell” rating and set a GBX 2,667 ($34.75) target price on shares of Derwent London in a research note on Monday, March 14th. Barclays reissued an “underweight” rating and issued a GBX 2,800 ($36.49) price objective on shares of Derwent London in a research note on Friday, April 1st. Morgan Stanley reissued an “overweight” rating on shares of Derwent London in a research note on Wednesday, February 9th. Finally, Berenberg Bank dropped their price objective on Derwent London from GBX 3,700 ($48.21) to GBX 3,500 ($45.61) and set a “buy” rating on the stock in a research note on Tuesday, March 22nd. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of GBX 3,447.22 ($44.92).

Shares of Derwent London stock opened at GBX 3,165.04 ($41.24) on Tuesday. The business’s fifty day moving average price is GBX 3,153.74 and its two-hundred day moving average price is GBX 3,330.87. The company has a debt-to-equity ratio of 29.74, a current ratio of 1.38 and a quick ratio of 0.55. The company has a market capitalization of £3.55 billion and a P/E ratio of 14.10. Derwent London has a 1-year low of GBX 2,797 ($36.45) and a 1-year high of GBX 3,850 ($50.17).

In related news, insider Emily Prideaux sold 676 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of GBX 3,090 ($40.27), for a total transaction of £20,888.40 ($27,219.70).

Derwent London Company Profile (Get Rating)

Derwent London plc owns 83 buildings in a commercial real estate portfolio predominantly in central London valued at £5.4 billion (including joint ventures) as at 30 June 2020, 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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