Derwent London Plc (DLN) Price Target Raised to GBX 2,680 at Canaccord Genuity
Derwent London Plc (LON:DLN) had its price objective lifted by Canaccord Genuity from GBX 2,530 ($31.25) to GBX 2,680 ($33.10) in a research note released on Friday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.
Other analysts also recently issued reports about the stock. Numis Securities Ltd downgraded shares of Derwent London Plc to an add rating and dropped their price objective for the stock from GBX 3,164 ($39.08) to GBX 3,006 ($37.12) in a report on Friday, January 13th. Goldman Sachs Group Inc reaffirmed a buy rating and set a GBX 3,250 ($40.14) price objective on shares of Derwent London Plc in a report on Tuesday, March 7th. Liberum Capital reaffirmed a hold rating and set a GBX 2,575 ($31.80) price objective on shares of Derwent London Plc in a report on Monday, March 13th. Peel Hunt reaffirmed a hold rating and set a GBX 2,900 ($35.82) price objective on shares of Derwent London Plc in a report on Tuesday, February 28th. Finally, Barclays PLC reaffirmed an overweight rating and set a GBX 3,500 ($43.23) price objective on shares of Derwent London Plc in a report on Monday, December 12th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of GBX 2,841.79 ($35.10).
Shares of Derwent London Plc (LON:DLN) traded up 1.11% during mid-day trading on Friday, reaching GBX 2730.00. 254,761 shares of the company’s stock were exchanged. Derwent London Plc has a one year low of GBX 2,230.00 and a one year high of GBX 3,507.80. The company has a 50 day moving average price of GBX 2,641.46 and a 200-day moving average price of GBX 2,583.03. The stock’s market cap is GBX 3.04 billion.
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The company also recently disclosed a dividend, which will be paid on Friday, June 9th. Shareholders of record on Thursday, May 4th will be given a GBX 90.50 ($1.12) dividend. This is a boost from Derwent London Plc’s previous dividend of $13.86. The ex-dividend date is Thursday, May 4th. This represents a dividend yield of 3.21%.
About Derwent London Plc
Derwent London plc is a United Kingdom-based real estate investment trust (REIT) operating in central London region. The Company owns and manages a portfolio of approximately 6.2 million square feet located in over 15 villages in London’s West End and City borders and focus on middle market rents. The Company’s property portfolio includes investment property, owner-occupied property and trading property.
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