Morgan Stanley Trims British Land (BLND) Target Price to GBX 620

British Land (LON:BLND) had its price target lowered by Morgan Stanley from GBX 640 ($8.36) to GBX 620 ($8.10) in a report issued on Thursday. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also weighed in on BLND. Credit Suisse Group reissued an underperform rating on shares of British Land in a report on Wednesday, November 14th. Deutsche Bank reduced their price objective on British Land from GBX 770 ($10.06) to GBX 710 ($9.28) and set a buy rating for the company in a report on Monday, November 26th. Liberum Capital reissued a hold rating on shares of British Land in a report on Wednesday, November 14th. Peel Hunt reaffirmed a hold rating on shares of British Land in a report on Wednesday, November 14th. Finally, BNP Paribas lowered British Land to a neutral rating and cut their price target for the stock from GBX 700 ($9.15) to GBX 680 ($8.89) in a report on Thursday, November 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of GBX 642.50 ($8.40).

Shares of BLND traded up GBX 11.40 ($0.15) on Thursday, reaching GBX 611.80 ($7.99). 2,611,160 shares of the company’s stock traded hands, compared to its average volume of 3,540,000. British Land has a 52-week low of GBX 587 ($7.67) and a 52-week high of GBX 695 ($9.08).

The firm also recently disclosed a dividend, which will be paid on Friday, May 3rd. Investors of record on Thursday, March 28th will be paid a dividend of GBX 7.75 ($0.10) per share. This represents a yield of 1.38%. The ex-dividend date is Thursday, March 28th.

In related news, insider Chris Grigg sold 4,978 shares of British Land stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of GBX 604 ($7.89), for a total transaction of £30,067.12 ($39,288.02). Also, insider William Jackson acquired 2,605 shares of the company’s stock in a transaction that occurred on Friday, January 4th. The shares were acquired at an average cost of GBX 532 ($6.95) per share, with a total value of £13,858.60 ($18,108.72). Insiders have purchased 2,683 shares of company stock valued at $1,430,839 in the last three months.

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £16.8bn (British Land share: £12.9bn) as at 30 September 2018 making us one of Europe's largest listed real estate investment companies. Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer.

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Analyst Recommendations for British Land (LON:BLND)

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