British Land (LON:BLND) Shares Pass Above 200 Day Moving Average of $393.70

British Land Company PLC (LON:BLND) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 393.70 ($5.06) and traded as high as GBX 427.80 ($5.50). British Land shares last traded at GBX 411.20 ($5.29), with a volume of 6,382,712 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays cut British Land to an “equal weight” rating and cut their price target for the stock from GBX 432 ($5.56) to GBX 405 ($5.21) in a report on Friday, May 3rd. Berenberg Bank boosted their price target on British Land from GBX 469 ($6.03) to GBX 500 ($6.43) and gave the stock a “buy” rating in a report on Friday, June 7th. Citigroup reaffirmed a “neutral” rating on shares of British Land in a research report on Thursday, July 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of British Land in a research report on Wednesday, July 3rd. Finally, Shore Capital reaffirmed a “buy” rating on shares of British Land in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 404 ($5.20).

British Land Stock Performance

The stock has a 50-day simple moving average of GBX 416.33 and a 200-day simple moving average of GBX 393.75. The stock has a market cap of £3.76 billion, a PE ratio of -341.01, a P/E/G ratio of 6.76 and a beta of 1.53. 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 business also recently disclosed a dividend, which was paid on Friday, July 26th. Shareholders of record on Thursday, June 20th were paid a dividend of GBX 10.64 ($0.14) per share. This represents a dividend yield of 2.7%. The ex-dividend date was Thursday, June 20th. British Land’s dividend payout ratio is presently -1,932.77%.

Insiders Place Their Bets

In related news, insider Irvinder Goodhew acquired 3,504 shares of British Land stock in a transaction on Wednesday, July 10th. The shares were bought at an average price of GBX 412 ($5.30) per share, for a total transaction of £14,436.48 ($18,570.21). In related news, insider Bhavesh Mistry sold 13,286 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of GBX 419 ($5.39), for a total value of £55,668.34 ($71,608.36). Also, insider Irvinder Goodhew purchased 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was acquired at an average price of GBX 412 ($5.30) per share, for a total transaction of £14,436.48 ($18,570.21). Insiders have purchased a total of 3,612 shares of company stock worth $1,488,553 over the last quarter. 0.19% of the stock is owned by corporate insiders.

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.