LondonMetric Property (LON:LMP) Reaches New 12-Month Low at $198.60

LondonMetric Property Plc (LON:LMPGet Rating)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as GBX 198.60 ($2.40) and last traded at GBX 198.80 ($2.40), with a volume of 357784 shares. The stock had previously closed at GBX 208.40 ($2.52).

Wall Street Analyst Weigh In

Several research analysts have weighed in on LMP shares. Berenberg Bank lowered LondonMetric Property to a “sell” rating and lowered their price target for the stock from GBX 280 ($3.38) to GBX 200 ($2.42) in a research report on Wednesday, August 31st. JPMorgan Chase & Co. boosted their target price on LondonMetric Property from GBX 335 ($4.05) to GBX 340 ($4.11) and gave the stock an “overweight” rating in a report on Monday, June 27th. Barclays reduced their price target on LondonMetric Property from GBX 320 ($3.87) to GBX 280 ($3.38) and set an “overweight” rating for the company in a research note on Monday, July 4th. Finally, Shore Capital restated a “buy” rating on shares of LondonMetric Property in a research note on Friday, September 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 286.33 ($3.46).

LondonMetric Property Price Performance

The company has a 50 day moving average of GBX 230.56 and a 200-day moving average of GBX 246.62. The firm has a market capitalization of £1.95 billion and a P/E ratio of 267.18. The company has a current ratio of 1.46, a quick ratio of 0.98 and a debt-to-equity ratio of 39.93.

LondonMetric Property Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 1st will be given a dividend of GBX 2.30 ($0.03) per share. The ex-dividend date is Thursday, September 1st. This represents a dividend yield of 1.01%. LondonMetric Property’s payout ratio is 11.47%.

About LondonMetric Property

(Get Rating)

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a diversified long income portfolio, with 16 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.

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