Royal Bank of Canada started coverage on shares of Derwent London (LON:DLN) in a research report issued on Tuesday. The brokerage set an “underperform” rating and a GBX 2,500 ($32.67) price target on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would suggest a potential downside of 22.36% from the stock’s current price.
Several other brokerages have also commented on DLN. Goldman Sachs Group dropped their price target on shares of Derwent London from GBX 2,976 ($38.89) to GBX 2,960 ($38.68) and set a “neutral” rating on the stock in a research note on Friday, January 25th. Citigroup lowered shares of Derwent London to a “sell” rating and dropped their price target for the stock from GBX 3,186 ($41.63) to GBX 2,513 ($32.84) in a research note on Friday, January 25th. Liberum Capital restated a “hold” rating on shares of Derwent London in a research note on Friday, October 19th. Peel Hunt restated a “hold” rating on shares of Derwent London in a research note on Friday, November 23rd. Finally, Barclays lowered shares of Derwent London to an “equal weight” rating and dropped their price target for the stock from GBX 3,100 ($40.51) to GBX 2,900 ($37.89) in a research note on Tuesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of GBX 3,059.85 ($39.98).
Shares of DLN opened at GBX 3,220 ($42.08) on Tuesday. Derwent London has a 12 month low of GBX 2,574 ($33.63) and a 12 month high of GBX 3,133 ($40.94).
Derwent London plc owns 87 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion (including joint ventures) as at 31 December 2017, making it the largest London-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.
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