British Land (LON:BLND) Hits New 1-Year Low – What’s Next?

British Land Company PLC (LON:BLND)’s share price reached a new 52-week low on Thursday . The stock traded as low as GBX 339.09 ($4.19) and last traded at GBX 342.40 ($4.23), with a volume of 4201175 shares trading hands. The stock had previously closed at GBX 345.80 ($4.27).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reduced their price objective on British Land from GBX 500 ($6.18) to GBX 480 ($5.93) and set a “buy” rating for the company in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 448.33 ($5.54).

British Land Trading Down 1.9 %

The stock has a market cap of £3.39 billion, a PE ratio of -335.97, a PEG ratio of 6.76 and a beta of 1.55. The company’s fifty day moving average is GBX 375.55 and its 200-day moving average is GBX 403.99. The company has a debt-to-equity ratio of 45.09, a current ratio of 0.59 and a quick ratio of 0.25.

British Land Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be paid a dividend of GBX 12.24 ($0.15) per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a dividend yield of 3.18%. This is a positive change from British Land’s previous dividend of $10.64.

Insider Activity

In other news, insider Mark Aedy purchased 2,745 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were bought at an average price of GBX 356 ($4.40) per share, for a total transaction of £9,772.20 ($12,079.36). Also, insider David Walker acquired 9,547 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of GBX 355 ($4.39) per share, with a total value of £33,891.85 ($41,893.51). Insiders purchased a total of 12,367 shares of company stock valued at $4,396,320 in the last quarter. 0.21% of the stock is currently owned by company insiders.

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.