British Land (LON:BLND) Share Price Crosses Above 200 Day Moving Average of $392.66

British Land Company PLC (LON:BLND) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 392.66 ($4.97) and traded as high as GBX 423.80 ($5.36). British Land shares last traded at GBX 408.20 ($5.16), with a volume of 1,787,636 shares traded.

Wall Street Analysts Forecast Growth

BLND has been the topic of a number of recent research reports. Barclays cut shares of British Land to an “equal weight” rating and cut their target price for the stock from GBX 432 ($5.46) to GBX 405 ($5.12) in a report on Friday, May 3rd. Berenberg Bank lifted their price target on British Land from GBX 469 ($5.93) to GBX 500 ($6.32) and gave the company a “buy” rating in a report on Friday, June 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of British Land in a report on Wednesday. Finally, Shore Capital reaffirmed a “buy” rating on shares of British Land in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of GBX 404 ($5.11).

British Land Stock Performance

The stock has a market cap of £3.82 billion, a P/E ratio of -345.71, a PEG ratio of 6.76 and a beta of 1.53. The company has a fifty day moving average of GBX 413.70 and a 200 day moving average of GBX 392.75. The company has a debt-to-equity ratio of 44.97, a current ratio of 0.59 and a quick ratio of 0.25.

British Land Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, July 26th. Investors of record on Thursday, June 20th will be issued a dividend of GBX 10.64 ($0.13) per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a yield of 2.7%. British Land’s payout ratio is -1,932.77%.

Insider Buying and Selling

In other British Land news, insider Bhavesh Mistry sold 13,286 shares of British Land stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of GBX 419 ($5.30), for a total value of £55,668.34 ($70,412.78). Insiders have bought a total of 112 shares of company stock valued at $45,053 over the last quarter. Corporate insiders own 0.19% 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.