Land Securities Group (LON:LAND) Shares Break Above 200-Day Moving Average – Here’s Why

Land Securities Group Plc (LON:LAND) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 642.60 and traded as high as GBX 658. Land Securities Group shares last traded at GBX 658, with a volume of 3,707,870 shares.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Land Securities Group from GBX 730 to GBX 750 and gave the company a “buy” rating in a report on Monday, October 5th. Jefferies Financial Group reissued a “hold” rating and issued a GBX 593 target price on shares of Land Securities Group in a report on Thursday, October 15th. Finally, Berenberg Bank lowered their target price on shares of Land Securities Group from GBX 931 to GBX 863 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Land Securities Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 654.33.

Land Securities Group Stock Performance

The company has a market capitalization of £5.46 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 12.39 and a beta of 1.15. The business has a 50 day moving average of GBX 646.28 and a 200 day moving average of GBX 642.71. The company has a quick ratio of 0.54, a current ratio of 1.04 and a debt-to-equity ratio of 68.76.

Insider Activity at Land Securities Group

In other news, insider Mark Allan sold 53,273 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of GBX 706, for a total transaction of £376,107.38. Also, insider Vanessa Simms sold 77,458 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of GBX 706, for a total value of £546,853.48. Over the last ninety days, insiders have bought 69 shares of company stock worth $44,598 and have sold 257,194 shares worth $181,578,964. 0.56% of the stock is owned by corporate insiders.

Land Securities Group Company Profile

At Landsec, we build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential. We are one of the largest real estate companies in Europe, with a £12 billion portfolio of retail, leisure, workspace and residential hubs. Landsec is shaping a better future by leading our industry on environmental and social sustainability while delivering value for our shareholders, great experiences for our guests and positive change for our communities.