British Land Company PLC (LON:BLND) Receives Average Rating of “Hold” from Brokerages

Shares of British Land Company PLC (LON:BLND) have been given a consensus recommendation of “Hold” by the six analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is GBX 404 ($5.12).

A number of analysts have recently issued reports on BLND shares. JPMorgan Chase & Co. lifted their price target on British Land from GBX 418 ($5.30) to GBX 460 ($5.84) and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. Shore Capital reissued a “buy” rating on shares of British Land in a research note on Monday, May 20th. Barclays cut shares of British Land to an “equal weight” rating and lowered their price target for the company from GBX 432 ($5.48) to GBX 405 ($5.14) in a research report on Friday, May 3rd. Finally, Berenberg Bank lifted their target price on shares of British Land from GBX 469 ($5.95) to GBX 500 ($6.34) and gave the stock a “buy” rating in a research note on Friday, June 7th.

Insider Buying and Selling

In related news, insider Bhavesh Mistry sold 13,286 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of GBX 419 ($5.32), for a total value of £55,668.34 ($70,618.22). Insiders have purchased 112 shares of company stock worth $45,053 in the last ninety days. 0.19% of the stock is owned by corporate insiders.

British Land Price Performance

LON:BLND opened at GBX 405.20 ($5.14) on Friday. British Land has a 1-year low of GBX 287.30 ($3.64) and a 1-year high of GBX 446.80 ($5.67). The company has a debt-to-equity ratio of 44.97, a current ratio of 0.59 and a quick ratio of 0.25. The company has a 50 day moving average price of GBX 410.58 and a 200-day moving average price of GBX 392.20. The firm has a market cap of £3.76 billion, a price-to-earnings ratio of -340.50, a price-to-earnings-growth ratio of 6.76 and a beta of 1.53.

British Land Cuts Dividend

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

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.