Berenberg Bank Reaffirms “Hold” Rating for Barratt Developments (LON:BDEV)

Berenberg Bank reissued their hold rating on shares of Barratt Developments (LON:BDEV) in a research report report published on Friday, Digital Look reports. Berenberg Bank currently has a GBX 540 ($7.06) target price on the real estate development company’s stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada reiterated a sector perform rating and set a GBX 575 ($7.52) price objective on shares of Barratt Developments in a report on Thursday, September 5th. JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 560 ($7.32) price target on shares of Barratt Developments in a research note on Wednesday, July 17th. Finally, Citigroup restated a buy rating and set a GBX 615 ($8.04) price objective on shares of Barratt Developments in a report on Thursday, September 5th.

Barratt Developments Price Performance

BDEV stock opened at GBX 510.33 ($6.67) on Friday. The company has a fifty day simple moving average of GBX 515.43 and a two-hundred day simple moving average of GBX 492.20. Barratt Developments has a 52 week low of GBX 384.15 ($5.02) and a 52 week high of GBX 582.60 ($7.62). The company has a quick ratio of 0.93, a current ratio of 4.55 and a debt-to-equity ratio of 4.46. The firm has a market capitalization of £7.35 billion, a P/E ratio of 4,247.93, a price-to-earnings-growth ratio of 8.74 and a beta of 1.63.

Barratt Developments Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, September 26th will be issued a dividend of GBX 11.80 ($0.15) per share. The ex-dividend date is Thursday, September 26th. This represents a dividend yield of 2.27%. This is an increase from Barratt Developments’s previous dividend of $4.40. Barratt Developments’s dividend payout ratio is 13,333.33%.

Insider Buying and Selling

In other Barratt Developments news, insider Steven J. Boyes sold 118 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of GBX 483 ($6.32), for a total transaction of £569.94 ($745.31). 1.51% of the stock is owned by company insiders.

About Barratt Developments

Barratt Developments plc engages in the housebuilding business in the United Kingdom. The company acquires and develops land; plans, designs, and constructs homes, apartments, penthouses, and communities, as well as undertakes mixed-use regeneration schemes; and develops retail, leisure, office, industrial, and mixed-use properties.