Analysts Set British Land Company PLC (LON:BLND) Price Target at GBX 404

Shares of British Land Company PLC (LON:BLND) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is GBX 404 ($5.16).

A number of equities research analysts have commented on BLND shares. Barclays cut British Land to an “equal weight” rating and decreased their price target for the company from GBX 432 ($5.52) to GBX 405 ($5.17) in a report on Friday, May 3rd. Shore Capital reiterated a “buy” rating on shares of British Land in a report on Wednesday, July 3rd. Citigroup reaffirmed a “neutral” rating on shares of British Land in a report on Thursday, July 25th. Berenberg Bank boosted their target price on shares of British Land from GBX 469 ($5.99) to GBX 500 ($6.38) and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of British Land in a research report on Wednesday, July 3rd.

Insiders Place Their Bets

In related news, insider Irvinder Goodhew acquired 3,504 shares of British Land stock in a transaction on Wednesday, July 10th. The stock was bought at an average cost of GBX 412 ($5.26) per share, for a total transaction of £14,436.48 ($18,432.69). In other news, insider Bhavesh Mistry sold 13,286 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of GBX 419 ($5.35), for a total value of £55,668.34 ($71,078.06). Also, insider Irvinder Goodhew bought 3,504 shares of British Land stock in a transaction dated Wednesday, July 10th. The stock was acquired at an average price of GBX 412 ($5.26) per share, with a total value of £14,436.48 ($18,432.69). Over the last ninety days, insiders purchased 3,575 shares of company stock worth $1,473,605. Company insiders own 0.19% of the company’s stock.

British Land Price Performance

Shares of British Land stock opened at GBX 402.40 ($5.14) on Friday. British Land has a one year low of GBX 287.30 ($3.67) and a one year high of GBX 446.80 ($5.70). The stock’s fifty day moving average is GBX 410.03 and its 200 day moving average is GBX 394.98. The stock has a market cap of £3.73 billion, a P/E ratio of -338.15, a P/E/G ratio of 6.76 and a beta of 1.53. The company has a debt-to-equity ratio of 44.97, a quick ratio of 0.25 and a current ratio of 0.59.

British Land Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, July 26th. Shareholders of record on Thursday, June 20th were given a dividend of GBX 10.64 ($0.14) per share. This represents a yield of 2.7%. The ex-dividend date was Thursday, June 20th. British Land’s dividend payout ratio is presently -1,932.77%.

British Land Company Profile

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.