British Land (LON:BLND) Reaches New 52-Week High – Here’s What Happened

British Land Company PLC (LON:BLND) shares hit a new 52-week high during trading on Thursday . The stock traded as high as GBX 433.20 and last traded at GBX 432.60, with a volume of 3068667 shares trading hands. The stock had previously closed at GBX 424.80.

Analyst Upgrades and Downgrades

BLND has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on British Land from GBX 440 to GBX 430 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Shore Capital Group restated a “hold” rating on shares of British Land in a report on Tuesday, April 21st. The Goldman Sachs Group lowered their target price on British Land from GBX 510 to GBX 470 and set a “buy” rating on the stock in a research report on Monday, March 30th. Berenberg Bank boosted their price target on shares of British Land from GBX 531 to GBX 534 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 510 price objective on shares of British Land in a report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, British Land has an average rating of “Hold” and a consensus price target of GBX 446.44.

British Land Trading Up 2.6%

The company has a debt-to-equity ratio of 52.34, a current ratio of 0.15 and a quick ratio of 0.25. The firm’s fifty day moving average is GBX 403.50 and its two-hundred day moving average is GBX 396.65. The firm has a market capitalization of £4.47 billion, a PE ratio of 9.62, a PEG ratio of 6.76 and a beta of 1.18.

British Land (LON:BLND) last posted its earnings results on Wednesday, May 20th. The company reported GBX 28.90 EPS for the quarter. British Land had a net margin of 86.48% and a return on equity of 7.73%. The firm had revenue of £523 million for the quarter. On average, equities analysts predict that British Land Company PLC will post 29.375 EPS for the current fiscal year.

Insiders Place Their Bets

In other British Land news, insider Amanda Mackenzie acquired 18,853 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average price of GBX 396 per share, with a total value of £74,657.88. Also, insider David Walker acquired 21,148 shares of the business’s stock in a transaction on Friday, June 26th. The stock was acquired at an average cost of GBX 422 per share, for a total transaction of £89,244.56. Over the last three months, insiders have acquired 65,448 shares of company stock valued at $27,879,719. 0.47% of the stock is owned by insiders.

British Land Company Profile

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.