Shares of Derwent London Plc (LON:DLN – Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 2,048 and last traded at GBX 2,018, with a volume of 591932 shares trading hands. The stock had previously closed at GBX 2,006.
Wall Street Analysts Forecast Growth
Several analysts recently commented on DLN shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 1,850 target price on shares of Derwent London in a report on Wednesday, May 13th. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 1,492 price objective on shares of Derwent London in a research note on Wednesday, July 1st. The Goldman Sachs Group cut their target price on shares of Derwent London from GBX 2,550 to GBX 2,410 and set a “buy” rating for the company in a report on Monday, March 30th. UBS Group reiterated a “sell” rating and issued a GBX 1,650 target price on shares of Derwent London in a research note on Monday, May 11th. Finally, Stifel Nicolaus lowered their price target on shares of Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating on the stock in a report on Tuesday, March 31st. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 1,956.50.
View Our Latest Report on Derwent London
Derwent London Stock Performance
Derwent London announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 12th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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.
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