LondonMetric Property Plc (LON:LMP) Insider Sells £1,020,000 in Stock

LondonMetric Property Plc (LON:LMP) insider Martin McGann sold 500,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of GBX 204 ($2.73), for a total transaction of £1,020,000 ($1,364,365.97).

LondonMetric Property Stock Up 1.6 %

Shares of LMP traded up GBX 3.20 ($0.04) during trading hours on Tuesday, reaching GBX 208 ($2.78). 6,316,627 shares of the stock traded hands, compared to its average volume of 7,133,990. The company has a current ratio of 0.68, a quick ratio of 0.81 and a debt-to-equity ratio of 59.04. The stock has a fifty day simple moving average of GBX 202.71 and a 200 day simple moving average of GBX 200.16. LondonMetric Property Plc has a 52 week low of GBX 152.30 ($2.04) and a 52 week high of GBX 210.80 ($2.82). The company has a market cap of £4.24 billion, a price-to-earnings ratio of 1,892.73, a PEG ratio of 3.27 and a beta of 0.90.

LondonMetric Property Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, August 29th will be given a GBX 2.85 ($0.04) dividend. This represents a yield of 1.41%. The ex-dividend date of this dividend is Thursday, August 29th. LondonMetric Property’s dividend payout ratio is 10,000.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on LMP. Shore Capital reaffirmed a “buy” rating on shares of LondonMetric Property in a research note on Tuesday, September 24th. Citigroup raised shares of LondonMetric Property to a “buy” rating and set a GBX 251 ($3.36) price objective on the stock in a research note on Wednesday, July 31st.

LondonMetric Property Company Profile

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a grocery-led long income portfolio, with 17 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.