Derwent London’s (DLN) Underweight Rating Reiterated at Barclays

Derwent London (LON:DLN – Get Rating)‘s stock had its “underweight” rating reissued by equities researchers at Barclays in a research note issued on Monday, Marketbeat reports. They presently have a GBX 2,800 ($34.98) price target on the real estate investment trust’s stock. Barclays‘s price objective points to a potential downside of 0.71% from the company’s previous close.

A number of other research firms have also recently issued reports on DLN. Morgan Stanley reaffirmed an “overweight” rating on shares of Derwent London in a report on Wednesday, February 9th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a GBX 2,850 ($35.60) price target on shares of Derwent London in a report on Tuesday, April 12th. JPMorgan Chase & Co. raised shares of Derwent London to an “overweight” rating and raised their price target for the stock from GBX 3,600 ($44.97) to GBX 4,200 ($52.47) in a report on Wednesday, April 13th. Berenberg Bank decreased their price target on shares of Derwent London from GBX 3,700 ($46.22) to GBX 3,500 ($43.72) and set a “buy” rating for the company in a report on Tuesday, March 22nd. Finally, Peel Hunt reaffirmed a “hold” rating and issued a GBX 3,700 ($46.22) price target on shares of Derwent London in a report on Friday, February 11th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Derwent London presently has a consensus rating of “Hold” and a consensus target price of GBX 3,513.89 ($43.90).

LON:DLN opened at GBX 2,820 ($35.23) on Monday. The firm has a 50 day moving average of GBX 3,110.81 and a 200 day moving average of GBX 3,274.22. The stock has a market capitalization of £3.17 billion and a price-to-earnings ratio of 12.57. Derwent London has a 52 week low of GBX 2,797 ($34.94) and a 52 week high of GBX 3,850 ($48.09). The company has a quick ratio of 0.55, a current ratio of 1.38 and a debt-to-equity ratio of 29.74.

In related 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 ($38.60), for a total transaction of £20,888.40 ($26,094.19).

About Derwent London (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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