British Land (LON:BLND) Share Price Crosses Above 200-Day Moving Average – Here’s Why

British Land Company PLC (LON:BLND) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 402.53 and traded as high as GBX 436.60. British Land shares last traded at GBX 432.20, with a volume of 196,902,359 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on BLND shares. Stifel Nicolaus reaffirmed a “hold” rating and set a GBX 410 target price on shares of British Land in a report on Wednesday, May 20th. Berenberg Bank lifted their price target on shares of British Land from GBX 531 to GBX 534 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. UBS Group reissued a “neutral” rating and set a GBX 440 price objective on shares of British Land in a research report on Monday, May 18th. Jefferies Financial Group restated an “underperform” rating and issued a GBX 305 price objective on shares of British Land in a research note on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. decreased their target price on British Land from GBX 440 to GBX 430 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, British Land has an average rating of “Hold” and an average target price of GBX 446.44.

British Land Trading Down 0.9%

The firm has a market capitalization of £4.38 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 6.76 and a beta of 1.18. The stock’s 50-day simple moving average is GBX 428.16 and its two-hundred day simple moving average is GBX 402.55. The company has a debt-to-equity ratio of 52.34, a current ratio of 0.15 and a quick ratio of 0.25.

Insider Activity

In other British Land news, insider Amanda Mackenzie purchased 18,853 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average cost of GBX 396 per share, with a total value of £74,657.88. Also, insider Raj Shah purchased 25,300 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average cost of GBX 393 per share, for a total transaction of £99,429. Over the last 90 days, insiders purchased 65,478 shares of company stock worth $27,895,238. 0.52% of the stock is currently owned by corporate insiders.

About British Land

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. We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.