British Land’s (BLND) “Buy” Rating Reaffirmed at Shore Capital

Shore Capital restated their buy rating on shares of British Land (LON:BLND) in a report published on Wednesday, MarketBeat reports.

BLND has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their price objective on British Land from GBX 418 ($5.29) to GBX 460 ($5.82) and gave the stock a neutral rating in a report on Thursday, May 23rd. Berenberg Bank increased their price objective on British Land from GBX 469 ($5.93) to GBX 500 ($6.32) and gave the stock a buy rating in a report on Friday, June 7th. Finally, Barclays downgraded British Land to an equal weight rating and decreased their price objective for the stock from GBX 432 ($5.46) to GBX 405 ($5.12) in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, British Land currently has an average rating of Hold and a consensus price target of GBX 404 ($5.11).

British Land Stock Performance

Shares of BLND stock opened at GBX 416 ($5.26) on Wednesday. The stock has a fifty day moving average of GBX 413.70 and a 200 day moving average of GBX 392.75. British Land has a 52 week low of GBX 287.30 ($3.63) and a 52 week high of GBX 446.80 ($5.65). The firm has a market capitalization of £3.86 billion, a price-to-earnings ratio of -345.71, a PEG ratio of 6.76 and a beta of 1.53. The company has a quick ratio of 0.25, a current ratio of 0.59 and a debt-to-equity ratio of 44.97.

British Land Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, July 26th. Stockholders of record on Thursday, June 20th will be issued a dividend of GBX 10.64 ($0.13) per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a dividend yield of 2.7%. British Land’s payout ratio is presently -1,932.77%.

Insider Buying and Selling

In related news, insider Bhavesh Mistry sold 13,286 shares of British Land stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of GBX 419 ($5.30), for a total value of £55,668.34 ($70,412.78). In the last ninety days, insiders acquired 112 shares of company stock worth $45,053. 0.19% of the stock is owned by corporate insiders.

About British Land

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.