British Land (LON:BLND) Hits New 1-Year High – Here’s Why

British Land Company PLC (LON:BLND) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 445.40 and last traded at GBX 442, with a volume of 6595529 shares trading hands. The stock had previously closed at GBX 437.80.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BLND. Shore Capital Group reiterated a “hold” rating on shares of British Land in a research report on Tuesday, April 21st. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 305 target price on shares of British Land in a research note on Tuesday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a GBX 410 price target on shares of British Land in a research report on Wednesday, May 20th. Berenberg Bank upped their price objective on shares of British Land from GBX 531 to GBX 534 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, UBS Group restated a “neutral” rating and issued a GBX 440 target price on shares of British Land in a research note on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 446.44.

British Land Stock Performance

The company has a quick ratio of 0.25, a current ratio of 0.15 and a debt-to-equity ratio of 52.34. The stock has a market capitalization of £4.52 billion, a P/E ratio of 9.74, a P/E/G ratio of 6.76 and a beta of 1.18. The business has a fifty day moving average price of GBX 409.16 and a 200-day moving average price of GBX 397.97.

British Land (LON:BLND) last announced its quarterly earnings results on Wednesday, May 20th. The company reported GBX 28.90 EPS for the quarter. The firm had revenue of £523 million during the quarter. British Land had a net margin of 86.48% and a return on equity of 7.73%. On average, sell-side analysts expect that British Land Company PLC will post 29.375 EPS for the current year.

Insider Activity at British Land

In other news, insider Amanda Mackenzie acquired 18,853 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average price of GBX 396 per share, with a total value of £74,657.88. Also, insider Simon Carter acquired 36 shares of British Land stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of £417.20 per share, with a total value of £15,019.20. Insiders have acquired a total of 65,448 shares of company stock valued at $27,879,719 in the last quarter. 0.47% of the stock is currently owned by corporate 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. We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.