British Land (LON:BLND) Share Price Passes Above Two Hundred Day Moving Average of $392.66

Shares of 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.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Berenberg Bank boosted their price objective on British Land from GBX 469 ($5.93) to GBX 500 ($6.32) and gave the stock a “buy” rating in a research note on Friday, June 7th. Shore Capital reiterated a “buy” rating on shares of British Land in a research report on Monday, May 20th. JPMorgan Chase & Co. raised their price objective on British Land from GBX 418 ($5.29) to GBX 460 ($5.82) and gave the company a “neutral” rating in a report on Thursday, May 23rd. Finally, Barclays lowered shares of British Land to an “equal weight” rating and dropped their target price for the stock from GBX 432 ($5.46) to GBX 405 ($5.12) in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock 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 50-day moving average of GBX 412.52 and a 200 day moving average of GBX 392.66. The stock has a market cap of £3.79 billion, a PE ratio of -343.03, a P/E/G ratio of 6.76 and a beta of 1.53. The company has a quick ratio of 0.25, a current ratio of 0.59 and a debt-to-equity ratio of 44.97.

British Land Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, July 26th. Stockholders 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 dividend yield of 2.7%. British Land’s dividend payout ratio is presently -1,932.77%.

Insider Activity at British Land

In other news, insider Bhavesh Mistry sold 13,286 shares of the firm’s 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 transaction of £55,668.34 ($70,412.78). Over the last quarter, insiders bought 112 shares of company stock valued at $45,053. 0.19% of the stock is owned by company 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.