Barratt Developments (LON:BDEV) Receives Buy Rating from Citigroup

Citigroup reiterated their buy rating on shares of Barratt Developments (LON:BDEV) in a research report released on Thursday morning, Marketbeat reports. They currently have a GBX 615 ($8.09) target price on the real estate development company’s stock.

BDEV has been the topic of a number of other research reports. Royal Bank of Canada restated a sector perform rating and issued a GBX 575 ($7.56) price objective on shares of Barratt Developments in a research report on Thursday. JPMorgan Chase & Co. restated an overweight rating and set a GBX 560 ($7.36) price target on shares of Barratt Developments in a report on Wednesday, July 17th.

Barratt Developments Stock Down 2.6 %

Shares of LON BDEV opened at GBX 492.60 ($6.48) on Thursday. The firm’s fifty day moving average is GBX 513.92 and its 200 day moving average is GBX 491.36. Barratt Developments has a 52 week low of GBX 384.15 ($5.05) and a 52 week high of GBX 582.60 ($7.66). The company has a quick ratio of 0.93, a current ratio of 4.92 and a debt-to-equity ratio of 4.52. The company has a market cap of £7.14 billion, a price-to-earnings ratio of 2,141.74, a PEG ratio of 9.09 and a beta of 1.63.

Barratt Developments Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, September 26th will be given a dividend of GBX 11.80 ($0.16) per share. This is an increase from Barratt Developments’s previous dividend of $4.40. This represents a yield of 2.27%. The ex-dividend date is Thursday, September 26th. Barratt Developments’s payout ratio is presently 12,173.91%.

Insider Activity

In other Barratt Developments news, insider Steven J. Boyes sold 118 shares of Barratt Developments stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of GBX 483 ($6.35), for a total transaction of £569.94 ($749.43). Insiders own 1.51% of the company’s stock.

About Barratt Developments

Barratt Developments plc engages in the housebuilding business in the United Kingdom. The company acquires and develops land; plans, designs, and constructs homes, apartments, penthouses, and communities, as well as undertakes mixed-use regeneration schemes; and develops retail, leisure, office, industrial, and mixed-use properties.