Derwent London (LON:DLN) Stock Crosses Above 200 Day Moving Average – Here’s Why

Derwent London Plc (LON:DLN)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,260.91 ($30.24) and traded as high as GBX 2,374 ($31.75). Derwent London shares last traded at GBX 2,326 ($31.11), with a volume of 338,090 shares.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank increased their price target on Derwent London from GBX 2,494 ($33.36) to GBX 2,700 ($36.12) and gave the company a “buy” rating in a research note on Wednesday, August 21st.

Derwent London Stock Down 0.1 %

The stock has a market capitalization of £2.61 billion, a price-to-earnings ratio of -724.61, a price-to-earnings-growth ratio of 23.10 and a beta of 1.03. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 40.68. The stock has a 50 day moving average price of GBX 2,366.11 and a 200 day moving average price of GBX 2,260.91.

Derwent London Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, September 5th will be given a dividend of GBX 25 ($0.33) per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a yield of 1.1%. Derwent London’s dividend payout ratio is presently -2,492.21%.

About Derwent London

Derwent London plc owns 66 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion as at 31 December 2023, making it the largest London office-focused real estate investment trust (REIT). Our experienced team has a long track record of creating value throughout the property cycle by regenerating our buildings via development or refurbishment, effective asset management and capital recycling.