British Land (LON:BLND) Stock Breaks Above 200-Day Moving Average – Should You Sell?

British Land Company PLC (LON:BLND) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 402.73 and traded as high as GBX 407.61. British Land shares last traded at GBX 402.20, with a volume of 2,816,345 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on BLND. JPMorgan Chase & Co. dropped their target price on British Land from GBX 440 to GBX 430 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 305 price target on shares of British Land in a research note on Tuesday, June 2nd. Finally, Berenberg Bank lifted their price target on British Land from GBX 531 to GBX 534 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of GBX 446.44.

British Land Stock Up 0.3%

The business’s 50 day moving average is GBX 424.87 and its 200-day moving average is GBX 402.92. The company has a debt-to-equity ratio of 52.34, a quick ratio of 0.25 and a current ratio of 0.15. The firm has a market capitalization of £4.06 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 6.76 and a beta of 1.18.

Insider Transactions at British Land

In other British Land news, insider David Walker purchased 21,148 shares of the stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of GBX 422 per share, with a total value of £89,244.56. Insiders have bought 21,289 shares of company stock worth $8,984,630 in the last three months. 0.52% of the stock is 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.