Derwent London (LON:DLN) Earns Underperform Rating from Jefferies Financial Group

Derwent London (LON:DLN)‘s stock had its “underperform” rating reiterated by stock analysts at Jefferies Financial Group in a report released on Wednesday,Digital Look reports. They presently have a GBX 1,492 price objective on the real estate investment trust’s stock. Jefferies Financial Group’s price objective indicates a potential downside of 22.93% from the company’s current price.

Several other brokerages also recently commented on DLN. Stifel Nicolaus cut their target price on Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating for the company in a research note on Tuesday, March 31st. UBS Group reiterated a “sell” rating and set a GBX 1,650 price target on shares of Derwent London in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 1,850 price target on shares of Derwent London in a report on Wednesday, May 13th. Berenberg Bank cut their price objective on shares of Derwent London from GBX 2,296 to GBX 2,210 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Finally, The Goldman Sachs Group reduced their price objective on shares of Derwent London from GBX 2,550 to GBX 2,410 and set a “buy” rating for the company in a research note on Monday, March 30th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of GBX 1,956.50.

Derwent London Stock Performance

Shares of LON DLN traded down GBX 5 during mid-day trading on Wednesday, hitting GBX 1,936. The company had a trading volume of 614,230 shares, compared to its average volume of 2,439,409. The company has a market capitalization of £2.17 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 23.10 and a beta of 1.19. Derwent London has a 1 year low of GBX 1,469.33 and a 1 year high of GBX 2,106. The company has a current ratio of 0.59, a quick ratio of 0.38 and a debt-to-equity ratio of 43.37. The stock’s 50-day moving average price is GBX 1,788.24 and its 200-day moving average price is GBX 1,760.65.

Derwent London announced that its board has initiated a stock buyback plan on Tuesday, May 12th that allows the company to buyback 0 shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Emily Prideaux sold 2,469 shares of Derwent London stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total transaction of £39,578.07. Also, insider Paul M. Williams sold 3,458 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total value of £55,431.74. Insiders sold a total of 8,694 shares of company stock worth $13,936,482 over the last ninety days. 0.43% of the stock is owned by corporate insiders.

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.