Derwent London (LON:DLN) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Derwent London Plc (LON:DLN) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,759.42 and traded as high as GBX 1,814.21. Derwent London shares last traded at GBX 1,774, with a volume of 191,449 shares traded.

Wall Street Analysts Forecast Growth

DLN has been the topic of several recent analyst reports. Berenberg Bank raised their price objective on shares of Derwent London from GBX 2,236 to GBX 2,296 and gave the company a “buy” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. lowered Derwent London to a “neutral” rating and cut their price target for the stock from GBX 2,400 to GBX 2,100 in a research note on Friday, November 28th. Finally, Shore Capital Group reissued a “buy” rating on shares of Derwent London in a report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Derwent London currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,228.67.

Derwent London Stock Up 0.6%

The firm has a market cap of £2.00 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 23.10 and a beta of 1.03. The company’s 50-day simple moving average is GBX 1,812.41 and its 200 day simple moving average is GBX 1,759.42. The company has a debt-to-equity ratio of 40.68, a current ratio of 0.51 and a quick ratio of 0.38.

Derwent London Company Profile

Derwent London plc owns 66 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion as at 31 December 2023, making it the largest London office-focused real estate investment trust (REIT). Our experienced team has a long track record of creating value throughout the property cycle by regenerating our buildings via development or refurbishment, effective asset management and capital recycling. We typically acquire central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or the Tech Belt.