Citigroup Upgrades LondonMetric Property (LON:LMP) to Buy

Citigroup upgraded shares of LondonMetric Property (LON:LMP) to a buy rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have GBX 251 ($3.23) price objective on the stock.

Separately, Shore Capital reaffirmed a buy rating on shares of LondonMetric Property in a report on Thursday, May 30th.

LondonMetric Property Price Performance

Shares of LMP stock opened at GBX 204.20 ($2.63) on Wednesday. The company has a market cap of £4.17 billion, a P/E ratio of -1,074.74, a PEG ratio of 3.27 and a beta of 0.86. The company has a debt-to-equity ratio of 43.79, a current ratio of 0.47 and a quick ratio of 0.81. The stock’s 50-day moving average is GBX 198.26 and its 200 day moving average is GBX 195.62. LondonMetric Property has a 1-year low of GBX 152.30 ($1.96) and a 1-year high of GBX 210.80 ($2.71).

LondonMetric Property Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, July 22nd. Shareholders of record on Thursday, June 13th were paid a dividend of GBX 3 ($0.04) per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a yield of 1.44%. This is a positive change from LondonMetric Property’s previous dividend of $2.40. LondonMetric Property’s payout ratio is -5,263.16%.

Insider Transactions at LondonMetric Property

In other LondonMetric Property news, insider Andrew Jones sold 239,863 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of GBX 195 ($2.51), for a total transaction of £467,732.85 ($601,663.04). Insiders own 6.11% of the company’s stock.

About LondonMetric Property

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a grocery-led long income portfolio, with 17 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.