Derwent London Plc (LON:DLN) Receives Average Rating of “Hold” from Brokerages

Derwent London Plc (LON:DLN) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is GBX 1,956.50.

Several research firms have weighed in on DLN. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 1,850 price target on shares of Derwent London in a research note on Wednesday, May 13th. UBS Group reaffirmed a “sell” rating and set a GBX 1,650 price objective on shares of Derwent London in a research note on Monday, May 11th. Finally, Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,492 price objective on shares of Derwent London in a report on Wednesday, July 1st.

Derwent London Price Performance

DLN stock opened at GBX 2,104 on Friday. The company has a debt-to-equity ratio of 43.37, a quick ratio of 0.38 and a current ratio of 0.59. Derwent London has a 52 week low of GBX 1,469.33 and a 52 week high of GBX 2,136. The firm’s fifty day moving average is GBX 1,926.35 and its 200 day moving average is GBX 1,810.31. The firm has a market cap of £2.34 billion, a P/E ratio of 14.66, a P/E/G ratio of 23.10 and a beta of 1.19.

Derwent London announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 12th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Derwent London

Derwent London plc owns 66 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion as at 31 December 2023, making it the largest London office-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. We typically acquire central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or the Tech Belt.