Derwent London (LON:DLN) Upgraded by JPMorgan Chase & Co. to “Overweight”

JPMorgan Chase & Co. upgraded shares of Derwent London (LON:DLNGet Rating) to an overweight rating in a report released on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has GBX 4,200 ($54.73) target price on the real estate investment trust’s stock, up from their previous target price of GBX 3,600 ($46.91).

A number of other research analysts also recently weighed in on the stock. Barclays reissued an underweight rating and set a GBX 2,800 ($36.49) target price on shares of Derwent London in a research report on Friday, April 1st. Morgan Stanley reaffirmed an overweight rating on shares of Derwent London in a report on Wednesday, February 9th. Peel Hunt reaffirmed a hold rating and issued a GBX 3,700 ($48.21) price objective on shares of Derwent London in a report on Friday, February 11th. Royal Bank of Canada reaffirmed an underperform rating and issued a GBX 2,850 ($37.14) price objective on shares of Derwent London in a report on Tuesday. Finally, Berenberg Bank lowered their target price on shares of 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 investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Derwent London currently has a consensus rating of Hold and a consensus target price of GBX 3,513.89 ($45.79).

Derwent London stock opened at GBX 3,210 ($41.83) on Wednesday. Derwent London has a twelve month low of GBX 2,797 ($36.45) and a twelve month high of GBX 3,850 ($50.17). The firm has a 50 day moving average price of GBX 3,144.95 and a 200-day moving average price of GBX 3,324.09. The company has a market capitalization of £3.60 billion and a P/E ratio of 14.28. The company has a quick ratio of 0.55, a current ratio of 1.38 and a debt-to-equity ratio of 29.74.

The firm also recently announced a dividend, which will be paid on Wednesday, June 1st. Investors of record on Thursday, April 28th will be given a GBX 53.50 ($0.70) dividend. This represents a yield of 1.76%. The ex-dividend date of this dividend is Thursday, April 28th. This is a boost from Derwent London’s previous dividend of $23.00. Derwent London’s dividend payout ratio (DPR) is presently 0.34%.

In other Derwent London news, insider Emily Prideaux sold 676 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of GBX 3,090 ($40.27), for a total value 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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