British Land (LON:BLND) Given “Sector Perform” Rating at Royal Bank of Canada

British Land (LON:BLNDGet Rating)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a note issued to investors on Friday, Marketbeat reports. They presently have a GBX 475 ($5.86) target price on the stock. Royal Bank of Canada’s target price suggests a potential downside of 4.90% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Barclays restated an “underweight” rating and set a GBX 500 ($6.16) price objective on shares of British Land in a research note on Monday. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 650 ($8.01) price target on shares of British Land in a report on Wednesday, April 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of British Land in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, British Land has an average rating of “Hold” and an average target price of GBX 529.29 ($6.53).

British Land stock traded up GBX 12.40 ($0.15) during mid-day trading on Friday, reaching GBX 499.50 ($6.16). 563,688 shares of the company were exchanged, compared to its average volume of 1,969,643. The company has a debt-to-equity ratio of 43.10, a quick ratio of 0.46 and a current ratio of 0.63. The firm has a market cap of £4.63 billion and a P/E ratio of 67.09. The business has a fifty day moving average of GBX 511.99 and a 200 day moving average of GBX 521.71. British Land has a 12-month low of GBX 441.70 ($5.45) and a 12-month high of GBX 563.80 ($6.95).

In other British Land news, insider Bhavesh Mistry sold 1,893 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of GBX 535 ($6.60), for a total value of £10,127.55 ($12,486.19). Also, insider Mark Aedy acquired 1,544 shares of the stock in a transaction on Tuesday, April 5th. The stock was bought at an average price of GBX 533 ($6.57) per share, for a total transaction of £8,229.52 ($10,146.12). Insiders have acquired a total of 1,630 shares of company stock valued at $867,713 over the last three months.

British Land Company Profile (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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