Derwent London (LON:DLN) Posts Earnings Results

Derwent London (LON:DLN) announced its earnings results on Friday. The real estate investment trust reported GBX (16.59) EPS for the quarter, Digital Look Earnings reports. Derwent London had a net margin of 40.73% and a return on equity of 4.48%.

Derwent London Stock Up 2.2%

DLN stock traded up GBX 46 during midday trading on Friday, reaching GBX 2,100. 329,223 shares of the company’s stock traded hands, compared to its average volume of 2,052,347. The company has a quick ratio of 0.38, a current ratio of 0.59 and a debt-to-equity ratio of 43.37. The firm’s fifty day moving average price is GBX 1,954.87 and its 200-day moving average price is GBX 1,817.61. Derwent London has a 52 week low of GBX 1,469.33 and a 52 week high of GBX 2,196. The company has a market cap of £2.34 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 23.10 and a beta of 1.19.

Derwent London announced that its board has initiated a stock repurchase plan on Tuesday, May 12th that allows the company to repurchase 0 shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

DLN has been the topic of a number of research analyst reports. UBS Group restated a “sell” rating and set a GBX 1,650 price target on shares of Derwent London in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 1,850 price objective on shares of Derwent London in a research note on Friday. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,210 price target on shares of Derwent London in a research note on Thursday. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,492 price objective on shares of Derwent London in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 1,956.50.

About Derwent London

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.