Derwent London (LON:DLN) Sets New 12-Month Low at $2,332.00

Derwent London Plc (LON:DLNGet Rating)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as GBX 2,332 ($28.18) and last traded at GBX 2,336 ($28.23), with a volume of 29533 shares changing hands. The stock had previously closed at GBX 2,438 ($29.46).

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DLN shares. Berenberg Bank cut Derwent London to a “hold” rating and lowered their target price for the company from GBX 3,500 ($42.29) to GBX 2,800 ($33.83) in a report on Wednesday, August 31st. Citigroup restated a “sell” rating and set a GBX 2,506 ($30.28) target price on shares of Derwent London in a report on Wednesday, July 20th. Finally, Barclays lowered their target price on Derwent London from GBX 2,690 ($32.50) to GBX 2,500 ($30.21) and set an “underweight” rating for the company in a report on Tuesday, August 30th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 3,282 ($39.66).

Derwent London Stock Down 3.9 %

The firm has a 50 day moving average price of GBX 2,625.54 and a 200-day moving average price of GBX 2,858.30. The firm has a market cap of £2.63 billion and a PE ratio of 1,024.37. The company has a current ratio of 1.82, a quick ratio of 0.38 and a debt-to-equity ratio of 30.84.

Derwent London Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 8th will be given a dividend of GBX 24 ($0.29) per share. This represents a yield of 0.87%. The ex-dividend date is Thursday, September 8th. Derwent London’s dividend payout ratio (DPR) is 32.14%.

Insiders Place Their Bets

In other news, insider Sanjeev Sharma purchased 1,261 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were bought at an average price of GBX 2,698 ($32.60) per share, with a total value of £34,021.78 ($41,108.97).

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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