British Land (LON:BLND) Rating Reiterated by Royal Bank of Canada

British Land (LON:BLNDGet Rating)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research note issued on Tuesday, MarketBeat Ratings reports. They currently have a GBX 500 ($6.52) target price on the stock. Royal Bank of Canada’s target price suggests a potential downside of 3.44% from the company’s previous close.

A number of other equities analysts have also recently weighed in on BLND. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 650 ($8.47) price target on shares of British Land in a report on Wednesday, March 16th. Morgan Stanley reiterated an “equal weight” rating on shares of British Land in a research report on Friday, January 28th. Finally, Barclays restated an “underweight” rating and set a GBX 500 ($6.52) price target on shares of British Land in a research report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 532.86 ($6.94).

Shares of BLND opened at GBX 517.80 ($6.75) on Tuesday. The company has a market cap of £4.80 billion and a price-to-earnings ratio of 69.97. British Land has a twelve month low of GBX 441.70 ($5.76) and a twelve month high of GBX 563.80 ($7.35). The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 43.10. The company has a 50 day moving average of GBX 521.98 and a two-hundred day moving average of GBX 519.98.

In other news, insider Bhavesh Mistry sold 1,893 shares of the business’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of GBX 535 ($6.97), for a total transaction of £10,127.55 ($13,197.22). Also, insider Mark Aedy acquired 1,544 shares of the stock in a transaction dated Tuesday, April 5th. The shares were bought at an average cost of GBX 533 ($6.95) per share, with a total value of £8,229.52 ($10,723.90). Insiders have purchased a total of 1,628 shares of company stock valued at $867,406 over the last 90 days.

About British Land (Get Rating)

Our portfolio of high quality UK commercial property is focused on London Offices and Retail around the UK. We own or manage a portfolio valued at £13.7bn (British Land share: £10.3bn) as at 30 September 2020 making us one of Europe's largest listed real estate investment companies. Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer.

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