British Land (LON:BLND) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

British Land Company PLC (LON:BLND) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 382.06 and traded as high as GBX 389.80. British Land shares last traded at GBX 389, with a volume of 230,817,969 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BLND. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 308 target price on shares of British Land in a research report on Thursday, November 20th. Shore Capital Group reaffirmed a “hold” rating on shares of British Land in a research note on Thursday, January 29th. Panmure Gordon restated a “hold” rating and set a GBX 424 price target on shares of British Land in a report on Thursday, November 20th. Finally, Berenberg Bank boosted their price objective on shares of British Land from GBX 506 to GBX 539 and gave the company a “buy” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, British Land has a consensus rating of “Hold” and a consensus price target of GBX 441.50.

British Land Stock Up 1.7%

The stock has a market cap of £3.89 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 6.76 and a beta of 1.19. The business has a fifty day moving average of GBX 408.31 and a 200 day moving average of GBX 382.06. The company has a debt-to-equity ratio of 47.52, a current ratio of 0.28 and a quick ratio of 0.25.

Insider Activity

In other British Land news, insider Mark Aedy acquired 2,475 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was purchased at an average cost of GBX 394 per share, for a total transaction of £9,751.50. Over the last three months, insiders have acquired 2,623 shares of company stock valued at $1,034,424. 0.65% of the stock is currently owned by insiders.

About British Land

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & London Urban Logistics assets throughout the UK. We own or manage a portfolio valued at £13.0bn (British Land share: £8.9bn) as at 31 March 2023 making us one of Europe's largest listed real estate investment companies. We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.