Derwent London (LON:DLN) Releases Earnings Results

Derwent London (LON:DLN) posted its earnings results on Friday. The real estate investment trust reported GBX (16.59) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Derwent London had a return on equity of 4.48% and a net margin of 40.73%.

Derwent London Stock Up 2.2%

Shares of DLN stock traded up GBX 46 during mid-day trading on Friday, reaching GBX 2,100. 329,223 shares of the company’s stock traded hands, compared to its average volume of 2,052,347. The company has a quick ratio of 0.38, a current ratio of 0.59 and a debt-to-equity ratio of 43.37. The company’s 50-day moving average price is GBX 1,954.87 and its 200-day moving average price is GBX 1,817.61. The company has a market cap of £2.34 billion, a P/E ratio of 14.63, a P/E/G ratio of 23.10 and a beta of 1.19. Derwent London has a 12 month low of GBX 1,469.33 and a 12 month high of GBX 2,196.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DLN. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 1,850 price objective on shares of Derwent London in a report on Friday. UBS Group reissued a “sell” rating and set a GBX 1,650 target price on shares of Derwent London in a research note on Monday, May 11th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 1,492 price target on shares of Derwent London in a research note on Wednesday, July 1st. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 2,210 price target on shares of Derwent London in a report on Thursday. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 1,956.50.

Derwent London announced that its Board of Directors has approved a share buyback plan on Tuesday, May 12th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.