LondonMetric Property (LON:LMP) Shares Pass Above 200 Day Moving Average of $198.00

LondonMetric Property Plc (LON:LMP) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 198 ($2.60) and traded as high as GBX 203.20 ($2.67). LondonMetric Property shares last traded at GBX 201.40 ($2.65), with a volume of 2,705,093 shares trading hands.

Wall Street Analyst Weigh In

LMP has been the subject of a number of research analyst reports. Shore Capital reaffirmed a “buy” rating on shares of LondonMetric Property in a research note on Thursday, May 30th. Citigroup upgraded shares of LondonMetric Property to a “buy” rating and set a GBX 251 ($3.30) price objective for the company in a report on Wednesday, July 31st.

LondonMetric Property Price Performance

The stock has a market cap of £4.10 billion, a PE ratio of 1,825.45, a P/E/G ratio of 3.27 and a beta of 0.90. The business has a fifty day simple moving average of GBX 199.76 and a two-hundred day simple moving average of GBX 198.05. The company has a current ratio of 0.68, a quick ratio of 0.81 and a debt-to-equity ratio of 59.04.

LondonMetric Property Cuts Dividend

The company also recently declared a dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, August 29th will be paid a GBX 2.85 ($0.04) dividend. The ex-dividend date is Thursday, August 29th. This represents a yield of 1.41%. LondonMetric Property’s payout ratio is 10,000.00%.

Insiders Place Their Bets

In other news, insider Andrew Jones sold 239,863 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of GBX 195 ($2.56), for a total transaction of £467,732.85 ($615,033.33). 6.33% of the stock is owned by corporate insiders.

About LondonMetric Property

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.