British Land (LON:BLND) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of British Land Company PLC (LON:BLND) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 394.77 and traded as high as GBX 419.20. British Land shares last traded at GBX 417.20, with a volume of 997,056 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BLND. Stifel Nicolaus reaffirmed a “hold” rating and set a GBX 410 target price on shares of British Land in a report on Wednesday, May 20th. Berenberg Bank boosted their price target on shares of British Land from GBX 531 to GBX 534 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group decreased their price target on shares of British Land from GBX 510 to GBX 470 and set a “buy” rating on the stock in a report on Monday, March 30th. UBS Group reiterated a “neutral” rating and issued a GBX 440 price objective on shares of British Land in a research report on Monday, May 18th. Finally, Shore Capital Group reissued a “hold” rating on shares of British Land in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of GBX 446.44.

British Land Stock Performance

The company’s 50-day moving average is GBX 398.28 and its two-hundred day moving average is GBX 394.77. The company has a market capitalization of £4.27 billion, a P/E ratio of 9.21, a PEG ratio of 6.76 and a beta of 1.18. The company has a quick ratio of 0.25, a current ratio of 0.15 and a debt-to-equity ratio of 52.34.

British Land (LON:BLND) last announced its earnings results on Wednesday, May 20th. The company reported GBX 28.90 earnings per share (EPS) for the quarter. British Land had a net margin of 86.48% and a return on equity of 7.73%. The business had revenue of £523 million during the quarter. Equities analysts anticipate that British Land Company PLC will post 29.375 earnings per share for the current fiscal year.

Insider Activity at British Land

In other British Land news, insider David Walker sold 36,209 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of GBX 420, for a total transaction of £152,077.80. Also, insider Simon Carter purchased 36 shares of the company’s stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of £417.20 per share, with a total value of £15,019.20. Insiders have purchased a total of 65,456 shares of company stock valued at $27,880,407 over the last ninety days. 0.47% of the stock is currently owned by insiders.

About British Land

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & London Urban Logistics assets throughout the UK. We own or manage a portfolio valued at £13.0bn (British Land share: £8.9bn) as at 31 March 2023 making us one of Europe's largest listed real estate investment companies. We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.