British Land (LON:BLND) Reaches New 12-Month High – Still a Buy?

Shares of British Land Company PLC (LON:BLND) hit a new 52-week high during trading on Friday . The company traded as high as GBX 446.40 and last traded at GBX 445.38, with a volume of 2912842 shares trading hands. The stock had previously closed at GBX 443.80.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BLND shares. JPMorgan Chase & Co. decreased their price objective on British Land from GBX 440 to GBX 430 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Stifel Nicolaus reissued a “hold” rating and set a GBX 410 target price on shares of British Land in a research note on Wednesday, May 20th. UBS Group reiterated a “neutral” rating and issued a GBX 440 price target on shares of British Land in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 510 price objective on shares of British Land in a research note on Wednesday, April 22nd. Finally, Shore Capital Group reiterated a “hold” rating on shares of British Land in a report on Tuesday, April 21st. Four equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of GBX 446.44.

British Land Trading Up 0.3%

The firm has a market cap of £4.56 billion, a P/E ratio of 9.83, a PEG ratio of 6.76 and a beta of 1.18. The company’s 50 day moving average is GBX 416.34 and its two-hundred day moving average is GBX 399.25. The company has a debt-to-equity ratio of 52.34, a current ratio of 0.15 and a quick ratio of 0.25.

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

Insider Buying and Selling at British Land

In other news, insider David Walker sold 36,209 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of GBX 420, for a total value of £152,077.80. Also, insider Raj Shah bought 25,300 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of GBX 393 per share, with a total value of £99,429. In the last 90 days, insiders have purchased 65,448 shares of company stock valued at $27,879,719. 0.47% of the stock is currently owned by company insiders.

British Land Company Profile

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.