Berenberg Bank Issues Positive Forecast for Derwent London (LON:DLN) Stock Price

Derwent London (LON:DLN) had its price objective lifted by equities researchers at Berenberg Bank from GBX 2,236 to GBX 2,296 in a research report issued on Monday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Berenberg Bank’s price target would indicate a potential upside of 18.72% from the company’s previous close.

Several other brokerages also recently issued reports on DLN. Shore Capital restated a “buy” rating on shares of Derwent London in a research report on Thursday, November 6th. JPMorgan Chase & Co. lowered Derwent London to a “neutral” rating and reduced their price objective for the company from GBX 2,400 to GBX 2,100 in a research report on Friday, November 28th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Derwent London presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,228.67.

Derwent London Stock Performance

Shares of Derwent London stock traded up GBX 3 on Monday, hitting GBX 1,934. The stock had a trading volume of 70,604 shares, compared to its average volume of 313,214. The stock has a market cap of £2.17 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 23.10 and a beta of 1.03. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 40.68. Derwent London has a 52-week low of GBX 1,600 and a 52-week high of GBX 2,106. The company’s 50 day moving average price is GBX 1,731.90 and its 200 day moving average price is GBX 1,765.48.

Derwent London Company Profile

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.