Shore Capital Reaffirms Buy Rating for Derwent London (LON:DLN)

Shore Capital restated their buy rating on shares of Derwent London (LON:DLN) in a research report report published on Thursday morning, MarketBeat reports.

Derwent London Stock Performance

Shares of DLN stock opened at GBX 1,996 ($26.55) on Thursday. The company’s 50-day simple moving average is GBX 1,860.67 and its 200-day simple moving average is GBX 1,955.07. Derwent London has a one year low of GBX 1,665 ($22.15) and a one year high of GBX 2,530 ($33.66). The stock has a market capitalization of £2.23 billion, a price-to-earnings ratio of -6.19, a PEG ratio of 23.10 and a beta of 1.03. The company has a debt-to-equity ratio of 40.68, a quick ratio of 0.38 and a current ratio of 0.51.

Derwent London (LON:DLN) last issued its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported GBX 106.50 ($1.42) earnings per share for the quarter. Derwent London had a negative return on equity of 10.41% and a negative net margin of 129.56%. Equities analysts anticipate that Derwent London will post 113.7351779 earnings per share for the current fiscal year.

Derwent London Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 24th will be given a GBX 55.50 ($0.74) dividend. This is an increase from Derwent London’s previous dividend of $25.00. This represents a dividend yield of 3%. The ex-dividend date is Thursday, April 24th. Derwent London’s dividend payout ratio (DPR) is presently -24.82%.

Insider Activity at Derwent London

In related news, insider Damian Wisniewski acquired 2,836 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of GBX 1,749 ($23.27) per share, for a total transaction of £49,601.64 ($65,985.95). Insiders own 7.98% of the company’s stock.

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.