Derwent London (LON:DLN) was upgraded by equities research analysts at BNP Paribas to a “neutral” rating in a report issued on Tuesday, September 11th. The firm presently has a GBX 3,230 ($42.07) price objective on the real estate investment trust’s stock, up from their previous price objective of GBX 3,170 ($41.29). BNP Paribas’ price objective points to a potential upside of 16.02% from the stock’s previous close.
A number of other brokerages have also commented on DLN. Numis Securities decreased their price objective on Derwent London from GBX 3,786 ($49.32) to GBX 3,745 ($48.78) and set a “buy” rating on the stock in a research report on Friday, August 10th. Liberum Capital reiterated a “hold” rating and issued a GBX 3,100 ($40.38) price objective on shares of Derwent London in a research report on Thursday, August 9th. Peel Hunt reiterated a “hold” rating on shares of Derwent London in a research report on Thursday, August 9th. Credit Suisse Group raised their price target on Derwent London from GBX 3,328.94 ($43.36) to GBX 3,510 ($45.72) and gave the stock an “outperform” rating in a research report on Wednesday, June 6th. Finally, UBS Group restated a “buy” rating and issued a GBX 3,600 ($46.89) price target (up from GBX 3,500 ($45.59)) on shares of Derwent London in a research report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 3,099.23 ($40.37).
Shares of DLN traded up GBX 13 ($0.17) during mid-day trading on Tuesday, reaching GBX 2,784 ($36.26). The company had a trading volume of 222,383 shares, compared to its average volume of 287,770. Derwent London has a twelve month low of GBX 2,574 ($33.53) and a twelve month high of GBX 3,133 ($40.81).
Derwent London (LON:DLN) last released its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported GBX 51.80 ($0.67) earnings per share for the quarter, beating the Zacks’ consensus estimate of GBX 50.30 ($0.66) by GBX 1.50 ($0.02). Derwent London had a return on equity of 7.38% and a net margin of 146.08%.
In related news, insider Robert Rayne sold 10,000 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of GBX 3,045 ($39.66), for a total transaction of £304,500 ($396,639.31).
Derwent London Company Profile
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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