British Land (LON:BLND) Sets New 52-Week Low – Here’s What Happened

British Land Company PLC (LON:BLND) hit a new 52-week low during mid-day trading 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 changing hands. The stock had previously closed at GBX 345.80 ($4.27).

Analysts Set New Price Targets

Separately, Berenberg Bank dropped their price target on British Land from GBX 500 ($6.18) to GBX 480 ($5.93) and set a “buy” rating for the company in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of GBX 448.33 ($5.54).

British Land Price Performance

The company has a market capitalization of £3.39 billion, a PE ratio of -335.97, a price-to-earnings-growth ratio of 6.76 and a beta of 1.55. The company has a quick ratio of 0.25, a current ratio of 0.59 and a debt-to-equity ratio of 45.09. The firm’s 50 day simple moving average is GBX 375.55 and its 200 day simple moving average is GBX 403.99.

British Land Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, January 15th. Investors 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 is a boost from British Land’s previous dividend of $10.64. This represents a dividend yield of 3.18%.

Insider Buying and Selling

In related news, insider Mark Aedy purchased 2,745 shares of British Land 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, with a total value of £9,772.20 ($12,079.36). Also, insider David Walker acquired 9,547 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of GBX 355 ($4.39) per share, with a total value of £33,891.85 ($41,893.51). Insiders have bought 12,367 shares of company stock valued at $4,396,320 in the last ninety days. 0.21% of the stock is 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.