British Land (LON:BLND) Reaches New 12-Month Low – Time to Sell?

Shares of British Land Company PLC (LON:BLND) reached a new 52-week low on Thursday . The company traded as low as GBX 339.09 ($4.14) and last traded at GBX 342.40 ($4.18), with a volume of 4201175 shares trading hands. The stock had previously closed at GBX 345.80 ($4.22).

Analyst Ratings Changes

Separately, Berenberg Bank lowered their target price on shares of British Land from GBX 500 ($6.11) to GBX 480 ($5.86) and set a “buy” rating for the company in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of GBX 448.33 ($5.47).

British Land Price Performance

The stock’s 50 day moving average price is GBX 372.48 and its 200-day moving average price is GBX 403.10. The company has a quick ratio of 0.25, a current ratio of 0.59 and a debt-to-equity ratio of 45.09. The stock has a market capitalization of £3.41 billion, a PE ratio of -335.97, a price-to-earnings-growth ratio of 6.76 and a beta of 1.55.

British Land Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be given a GBX 12.24 ($0.15) dividend. This represents a yield of 3.18%. This is a boost from British Land’s previous dividend of $10.64. The ex-dividend date is Thursday, December 5th.

Insider Transactions at British Land

In other British Land news, insider Mark Aedy acquired 2,745 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were purchased at an average cost of GBX 356 ($4.35) per share, for a total transaction of £9,772.20 ($11,931.87). Also, insider David Walker acquired 9,547 shares of British Land stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of GBX 355 ($4.33) per share, with a total value of £33,891.85 ($41,381.99). Over the last three months, insiders have purchased 12,367 shares of company stock valued at $4,396,320. 0.21% of the stock is currently owned by company insiders.

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.