British Land (LON:BLND) Shares Cross Above 200 Day Moving Average – Here’s Why

British Land Company PLC (LON:BLND)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 401.76 and traded as high as GBX 441.60. British Land shares last traded at GBX 437.20, with a volume of 1,149,997 shares traded.

Analysts Set New Price Targets

BLND has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 305 price objective on shares of British Land in a research note on Tuesday, June 2nd. Berenberg Bank raised their target price on British Land from GBX 531 to GBX 534 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Stifel Nicolaus restated a “hold” rating and set a GBX 410 price target on shares of British Land in a report on Wednesday, May 20th. Shore Capital Group restated a “hold” rating on shares of British Land in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of British Land from GBX 440 to GBX 430 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of GBX 446.44.

British Land Trading Up 0.4%

The firm’s 50-day moving average is GBX 425.53 and its 200-day moving average is GBX 402.02. The company has a current ratio of 0.15, a quick ratio of 0.25 and a debt-to-equity ratio of 52.34. The firm has a market cap of £4.50 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 6.76 and a beta of 1.18.

British Land (LON:BLND) last announced its quarterly earnings results on Wednesday, May 20th. The company reported GBX 28.90 EPS for the quarter. British Land had a net margin of 86.48% and a return on equity of 7.73%. The business had revenue of £523 million during the quarter. As a group, sell-side analysts anticipate that British Land Company PLC will post 29.375 EPS for the current fiscal year.

Insider Buying and Selling at British Land

In related news, insider Amanda Mackenzie purchased 18,853 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of GBX 396 per share, for a total transaction of £74,657.88. Also, insider Simon Carter acquired 36 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were bought at an average cost of £417.20 per share, with a total value of £15,019.20. In the last ninety days, insiders purchased 65,409 shares of company stock valued at $27,865,016. Insiders own 0.52% of the company’s stock.

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.