British Land (LON:BLND) Reaches New 12-Month Low – Here’s What Happened

British Land Company PLC (LON:BLND) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 35.87 ($0.44) and last traded at GBX 351.20 ($4.32), with a volume of 7231958 shares. The stock had previously closed at GBX 352.20 ($4.34).

Analysts Set New Price Targets

Separately, Berenberg Bank cut their target price on shares of British Land from GBX 500 ($6.16) to GBX 480 ($5.91) and set a “buy” rating for the company in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, British Land has a consensus rating of “Hold” and an average price target of GBX 448.33 ($5.52).

British Land Price Performance

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 cap of £3.51 billion, a P/E ratio of -335.97, a P/E/G ratio of 6.76 and a beta of 1.55. The firm has a 50 day moving average price of GBX 365.84 and a 200 day moving average price of GBX 399.13.

British Land (LON:BLND) last issued its quarterly earnings results on Wednesday, November 20th. The company reported GBX 15.30 ($0.19) earnings per share for the quarter. British Land had a negative net margin of 0.15% and a positive return on equity of 0.02%. On average, analysts forecast that British Land Company PLC will post 29.375 EPS for the current fiscal year.

British Land Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th were issued a dividend of GBX 12.24 ($0.15) per share. The ex-dividend date was Thursday, December 5th. This is a boost from British Land’s previous dividend of $10.64. This represents a yield of 3.18%.

Insider Transactions at British Land

In related news, insider David Walker purchased 9,547 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of GBX 355 ($4.37) per share, for a total transaction of £33,891.85 ($41,723.32). Also, insider Mark Aedy purchased 2,745 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were purchased at an average price of GBX 356 ($4.38) per share, with a total value of £9,772.20 ($12,030.28). Insiders acquired a total of 12,375 shares of company stock valued at $4,396,194 over the last 90 days. Company insiders own 0.21% of the company’s stock.

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.