Derwent London (LON:DLN) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Derwent London Plc (LON:DLN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,780.49 and traded as high as GBX 1,892. Derwent London shares last traded at GBX 1,850, with a volume of 601,697 shares trading hands.

Analyst Ratings Changes

A number of analysts have issued reports on DLN shares. JPMorgan Chase & Co. downgraded shares of Derwent London to a “neutral” rating and cut their price objective for the company from GBX 2,400 to GBX 2,100 in a report on Friday, November 28th. Shore Capital reiterated a “buy” rating on shares of Derwent London in a research note on Thursday, November 6th. Finally, Peel Hunt decreased their price objective on shares of Derwent London from GBX 2,385 to GBX 2,290 and set a “buy” rating for the company in a report on Thursday, September 18th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Derwent London currently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,195.

Derwent London Stock Performance

The stock has a market cap of £2.08 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 23.10 and a beta of 1.03. The business has a 50 day moving average price of GBX 1,707.32 and a two-hundred day moving average price of GBX 1,778.50. The company has a debt-to-equity ratio of 40.68, a current ratio of 0.51 and a quick ratio of 0.38.

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.