British Land (LON:BLND) Hits New 1-Year Low at $475.00

British Land Company PLC (LON:BLND) hit a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 475 ($6.21) and last traded at GBX 476.10 ($6.22), with a volume of 1320944 shares traded. The stock had previously closed at GBX 484.50 ($6.33).

A number of brokerages have issued reports on BLND. Deutsche Bank reissued a “hold” rating on shares of British Land in a report on Friday, July 12th. Goldman Sachs Group reissued a “neutral” rating on shares of British Land in a report on Thursday, August 8th. Liberum Capital reaffirmed a “hold” rating and set a GBX 950 ($12.41) price target on shares of British Land in a report on Wednesday, June 26th. Barclays cut British Land to an “underweight” rating and cut their price target for the company from GBX 580 ($7.58) to GBX 500 ($6.53) in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. cut their price target on British Land from GBX 660 ($8.62) to GBX 615 ($8.04) and set a “neutral” rating on the stock in a report on Friday, May 17th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. British Land presently has an average rating of “Hold” and an average price target of GBX 625.62 ($8.17).

The company’s fifty day moving average is GBX 526.56. The firm has a market capitalization of $4.46 billion and a P/E ratio of -15.92. The company has a debt-to-equity ratio of 37.44, a quick ratio of 0.70 and a current ratio of 0.94.

The firm also recently declared a dividend, which will be paid on Friday, November 8th. Stockholders of record on Thursday, October 3rd will be issued a dividend of GBX 7.98 ($0.10) per share. This represents a dividend yield of 1.48%. The ex-dividend date is Thursday, October 3rd. This is a boost from British Land’s previous dividend of $7.75. British Land’s payout ratio is -1.07%.

In other news, insider Tim Score bought 2,579 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were purchased at an average price of GBX 552 ($7.21) per share, with a total value of £14,236.08 ($18,601.96). Also, insider Simon Carter bought 7,774 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average cost of GBX 535 ($6.99) per share, for a total transaction of £41,590.90 ($54,345.88). In the last ninety days, insiders have bought 10,380 shares of company stock worth $5,597,386.

About British Land (LON:BLND)

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £16.8bn (British Land share: £12.9bn) as at 30 September 2018 making us one of Europe's largest listed real estate investment companies. Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer.

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