Hammerson (HMSO) Reaches New 12-Month Low on Insider Selling

Hammerson plc (LON:HMSO) shares hit a new 52-week low during mid-day trading on Friday following insider selling activity. The company traded as low as GBX 309 ($4.04) and last traded at GBX 310.30 ($4.05), with a volume of 3780701 shares trading hands. The stock had previously closed at GBX 315 ($4.12).

Specifically, insider Timon Drakesmith sold 32,202 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of GBX 316 ($4.13), for a total transaction of £101,758.32 ($132,965.27).

HMSO has been the subject of several research reports. UBS Group reaffirmed a “neutral” rating and set a GBX 375 ($4.90) price objective on shares of Hammerson in a research note on Monday, February 25th. HSBC dropped their price objective on shares of Hammerson from GBX 543 ($7.10) to GBX 400 ($5.23) and set a “buy” rating for the company in a research note on Thursday, March 28th. Goldman Sachs Group dropped their price objective on shares of Hammerson from GBX 367 ($4.80) to GBX 345 ($4.51) and set a “neutral” rating for the company in a research note on Tuesday, March 19th. Deutsche Bank raised shares of Hammerson to a “buy” rating and dropped their price objective for the company from GBX 480 ($6.27) to GBX 440 ($5.75) in a research note on Wednesday, January 16th. Finally, JPMorgan Chase & Co. cut shares of Hammerson to a “neutral” rating and dropped their price objective for the company from GBX 610 ($7.97) to GBX 410 ($5.36) in a research note on Monday, January 21st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of GBX 398.43 ($5.21).

The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 58.29. The company has a market cap of $2.37 billion and a PE ratio of -9.10.

The company also recently declared a dividend, which was paid on Thursday, May 2nd. Stockholders of record on Thursday, March 21st were paid a GBX 14.80 ($0.19) dividend. This is a boost from Hammerson’s previous dividend of $11.10. The ex-dividend date was Thursday, March 21st. This represents a dividend yield of 3.99%. Hammerson’s dividend payout ratio is -0.76%.

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About Hammerson (LON:HMSO)

We are an owner, manager and developer of retail destinations in Europe. Our portfolio includes investments in 22 prime shopping centres in the UK, Ireland and France, 15 convenient retail parks in the UK and 20 premium outlets across Europe.

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