British Land (LON:BLND) Shares Pass Above 200-Day Moving Average – Here’s Why

British Land Company PLC (LON:BLND) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 402.99 and traded as high as GBX 416. British Land shares last traded at GBX 414.60, with a volume of 2,798,628 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLND shares. Berenberg Bank boosted their price objective on shares of British Land from GBX 531 to GBX 534 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 305 price target on shares of British Land in a research report on Tuesday, June 2nd. Stifel Nicolaus reissued a “hold” rating and issued a GBX 410 price objective on shares of British Land in a report on Wednesday, May 20th. UBS Group reissued a “neutral” rating and issued a GBX 440 price objective on shares of British Land in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. decreased their target price on British Land from GBX 440 to GBX 430 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 446.44.

British Land Stock Up 0.8%

The company has a quick ratio of 0.25, a current ratio of 0.15 and a debt-to-equity ratio of 52.34. The company has a market capitalization of £4.28 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 6.76 and a beta of 1.18. The business’s 50-day moving average is GBX 429.79 and its 200-day moving average is GBX 403.10.

Insider Activity

In related news, insider David Walker sold 36,209 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of GBX 420, for a total transaction of £152,077.80. Also, insider Simon Carter purchased 36 shares of British Land stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of £417.20 per share, with a total value of £15,019.20. In the last three months, insiders bought 21,325 shares of company stock valued at $10,486,550. Insiders own 0.52% of the company’s stock.

British Land Company Profile

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & London Urban Logistics assets throughout the UK. We own or manage a portfolio valued at £13.0bn (British Land share: £8.9bn) as at 31 March 2023 making us one of Europe's largest listed real estate investment companies. We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.