Derwent London (LON:DLN) Shares Pass Above 200-Day Moving Average – What’s Next?

Derwent London Plc (LON:DLN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,763.55 and traded as high as GBX 1,911. Derwent London shares last traded at GBX 1,899, with a volume of 330,775 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Berenberg Bank boosted their target price on Derwent London from GBX 2,236 to GBX 2,296 and gave the stock a “buy” rating in a research report on Monday, January 26th. Shore Capital Group reissued a “buy” rating on shares of Derwent London in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. lowered shares of Derwent London to a “neutral” rating and lowered their price objective for the stock from GBX 2,400 to GBX 2,100 in a report on Friday, November 28th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,228.67.

Derwent London Price Performance

The firm has a fifty day moving average of GBX 1,792.47 and a two-hundred day moving average of GBX 1,763.55. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 40.68. The company has a market capitalization of £2.07 billion, a PE ratio of 8.73, a PEG ratio of 23.10 and a beta of 1.03.

About Derwent London

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. We typically acquire central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or the Tech Belt.