Derwent London (DLN) Hits New 1-Year High at $3,344.00

Derwent London Plc (LON:DLN) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 3,344 ($43.70) and last traded at GBX 3,328 ($43.49), with a volume of 173029 shares trading hands. The stock had previously closed at GBX 3,328 ($43.49).

A number of research firms have issued reports on DLN. Goldman Sachs Group decreased their price objective on Derwent London from GBX 2,976 ($38.89) to GBX 2,960 ($38.68) and set a “neutral” rating for the company in a report on Friday, January 25th. UBS Group restated a “buy” rating and set a GBX 3,750 ($49.00) price objective (up previously from GBX 3,600 ($47.04)) on shares of Derwent London in a report on Wednesday, March 13th. Berenberg Bank restated a “sell” rating and set a GBX 2,650 ($34.63) price objective on shares of Derwent London in a report on Wednesday, April 3rd. Numis Securities cut Derwent London to an “add” rating and boosted their price objective for the company from GBX 3,745 ($48.94) to GBX 3,779 ($49.38) in a report on Wednesday, May 1st. Finally, Peel Hunt restated a “hold” rating on shares of Derwent London in a report on Wednesday, May 8th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Derwent London presently has a consensus rating of “Hold” and an average price target of GBX 3,184 ($41.60).

The company has a debt-to-equity ratio of 22.96, a current ratio of 0.46 and a quick ratio of 0.23. The stock has a market cap of $3.72 billion and a price-to-earnings ratio of 16.73.

The company also recently announced a dividend, which will be paid on Friday, June 7th. Shareholders of record on Thursday, May 2nd will be given a dividend of GBX 46.75 ($0.61) per share. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Derwent London’s previous dividend of $19.10. This represents a yield of 1.42%. Derwent London’s payout ratio is 0.33%.

In other news, insider Simon P. Silver sold 25,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of GBX 3,257 ($42.56), for a total value of £814,250 ($1,063,961.85). Also, insider David Silverman sold 6,165 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of GBX 3,219 ($42.06), for a total value of £198,451.35 ($259,311.84).

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About Derwent London (LON:DLN)

Derwent London plc owns 87 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion (including joint ventures) as at 31 December 2017, making it the largest London-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.

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