LondonMetric Property (LON:LMP) Hits New 52-Week High at $205.60

LondonMetric Property Plc (LON:LMP) shares hit a new 52-week high on Friday . The company traded as high as GBX 205.60 ($2.58) and last traded at GBX 203 ($2.55), with a volume of 2825030 shares changing hands. The stock had previously closed at GBX 198.80 ($2.50).

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Berenberg Bank raised shares of LondonMetric Property to a “buy” rating and increased their price objective for the stock from GBX 176 ($2.21) to GBX 229 ($2.88) in a research report on Wednesday, March 6th. Shore Capital reaffirmed a “buy” rating on shares of LondonMetric Property in a research note on Wednesday, March 6th.

LondonMetric Property Price Performance

The company has a current ratio of 0.47, a quick ratio of 0.81 and a debt-to-equity ratio of 43.79. The company has a 50 day simple moving average of GBX 194.81 and a 200 day simple moving average of GBX 187.70. The stock has a market cap of £4.14 billion, a P/E ratio of -1,067.37, a PEG ratio of 3.27 and a beta of 0.86.

LondonMetric Property Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, February 29th were given a GBX 2.40 ($0.03) dividend. This represents a dividend yield of 1.28%. The ex-dividend date was Thursday, February 29th. LondonMetric Property’s dividend payout ratio is presently -5,263.16%.

Insider Buying and Selling

In other LondonMetric Property news, insider Katerina Patmore purchased 10,000 shares of the stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of GBX 192 ($2.41) per share, for a total transaction of £19,200 ($24,117.57). 6.03% of the stock is currently owned by corporate insiders.

LondonMetric Property Company Profile

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a grocery-led long income portfolio, with 17 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.