Share Repurchase Program Authorized by Derwent London (LON:DLN)

Derwent London (LON:DLN) announced that its board has initiated a share repurchase plan on Tuesday, May 12th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Derwent London Price Performance

LON DLN traded down GBX 36 during trading on Tuesday, reaching GBX 1,690. The company’s stock had a trading volume of 395,793 shares, compared to its average volume of 1,098,080. The firm has a fifty day moving average of GBX 1,674.48 and a 200 day moving average of GBX 1,739.16. Derwent London has a one year low of GBX 1,469.33 and a one year high of GBX 2,106. The stock has a market capitalization of £1.90 billion, a PE ratio of 11.78, a P/E/G ratio of 23.10 and a beta of 1.19. The company has a debt-to-equity ratio of 43.37, a current ratio of 0.59 and a quick ratio of 0.38.

Derwent London (LON:DLN) last issued its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported GBX 98.40 EPS for the quarter. Derwent London had a return on equity of 4.48% and a net margin of 40.73%. Analysts expect that Derwent London will post 113.7351779 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DLN has been the subject of several analyst reports. Berenberg Bank cut their target price on Derwent London from GBX 2,296 to GBX 2,210 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 1,492 price target on shares of Derwent London in a report on Tuesday. UBS Group restated a “sell” rating and issued a GBX 1,650 price objective on shares of Derwent London in a research report on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Derwent London from GBX 2,000 to GBX 1,850 and set a “hold” rating on the stock in a report on Friday, March 20th. Finally, Stifel Nicolaus lowered their target price on shares of Derwent London from GBX 1,925 to GBX 1,650 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of GBX 1,956.50.

Insiders Place Their Bets

In related news, insider Paul M. Williams sold 3,458 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total transaction of £55,431.74. Also, insider Damian Wisniewski sold 2,767 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of GBX 1,603, for a total value of £44,355.01. Insiders sold a total of 8,694 shares of company stock valued at $13,936,482 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

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.