Derwent London (LON:DLN) Shares Pass Above 200 Day Moving Average – Here’s Why

Derwent London Plc (LON:DLN) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,768.29 and traded as high as GBX 1,910. Derwent London shares last traded at GBX 1,897, with a volume of 227,264 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on DLN shares. Shore Capital reaffirmed a “buy” rating on shares of Derwent London in a research report on Thursday, November 6th. JPMorgan Chase & Co. lowered shares of Derwent London to a “neutral” rating and dropped their price objective for the stock from GBX 2,400 to GBX 2,100 in a research note on Friday, November 28th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 2,195.

Derwent London Trading Up 0.9%

The stock has a market cap of £2.12 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 23.10 and a beta of 1.03. The firm has a 50-day moving average price of GBX 1,720.71 and a 200-day moving average price of GBX 1,768.08. The company has a debt-to-equity ratio of 40.68, a quick ratio of 0.38 and a current ratio of 0.51.

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.