Derwent London (LON:DLN) Sets New 12-Month High at $2,456.00

Derwent London Plc (LON:DLN) shares hit a new 52-week high on Wednesday . The stock traded as high as GBX 2,456 ($32.12) and last traded at GBX 2,434 ($31.83), with a volume of 10404469 shares trading hands. The stock had previously closed at GBX 2,446 ($31.99).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank raised their price objective on Derwent London from GBX 2,494 ($32.61) to GBX 2,700 ($35.31) and gave the stock a “buy” rating in a report on Wednesday, August 21st.

Derwent London Stock Performance

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 company has a market cap of £2.80 billion, a price-to-earnings ratio of -770.09, a PEG ratio of 23.10 and a beta of 1.03. The stock has a 50 day simple moving average of GBX 2,313.28 and a 200 day simple moving average of GBX 2,216.80.

Derwent London Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 5th will be paid a dividend of GBX 25 ($0.33) per share. The ex-dividend date is Thursday, September 5th. This represents a dividend yield of 1.1%. Derwent London’s dividend payout ratio is currently -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.