LondonMetric Property (LON:LMP) Lifted to “Buy” at Citigroup

LondonMetric Property (LON:LMP) was upgraded by Citigroup to a “buy” rating in a research report issued to clients and investors on Wednesday, Digital Look reports. The brokerage presently has a GBX 251 ($3.23) price target on the stock. Citigroup’s target price would suggest a potential upside of 24.46% from the company’s previous close.

Separately, Shore Capital reissued a “buy” rating on shares of LondonMetric Property in a research note on Thursday, May 30th.

LondonMetric Property Price Performance

LondonMetric Property stock opened at GBX 201.67 ($2.59) on Wednesday. The company’s 50 day moving average price is GBX 198.22 and its two-hundred day moving average price is GBX 195.42. The company has a quick ratio of 0.81, a current ratio of 0.47 and a debt-to-equity ratio of 43.79. LondonMetric Property has a 52 week low of GBX 152.30 ($1.96) and a 52 week high of GBX 210.80 ($2.71). The stock has a market cap of £4.11 billion, a P/E ratio of -1,061.41, a P/E/G ratio of 3.27 and a beta of 0.86.

Insider Transactions at LondonMetric Property

In related news, insider Andrew Jones sold 239,863 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of GBX 195 ($2.51), for a total value of £467,732.85 ($601,663.04). Company insiders own 6.11% of the company’s stock.

About LondonMetric Property

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a grocery-led long income portfolio, with 17 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.