LondonMetric Property (LON:LMP) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Posted by Alanna Baker on Oct 18th, 2024

LondonMetric Property Plc (LON:LMP – Get Free Report)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 200.76 ($2.62) and traded as high as GBX 208.40 ($2.72). LondonMetric Property shares last traded at GBX 208.40 ($2.72), with a volume of 3,986,812 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Shore Capital reissued a “buy” rating on shares of LondonMetric Property in a research note on Tuesday, September 24th. Citigroup upgraded shares of LondonMetric Property to a “buy” rating and set a GBX 251 ($3.28) price target on the stock in a research note on Wednesday, July 31st.

Get Our Latest Stock Analysis on LMP

LondonMetric Property Price Performance

The company’s fifty day moving average price is GBX 204 and its 200 day moving average price is GBX 200.82. The company has a quick ratio of 0.81, a current ratio of 0.68 and a debt-to-equity ratio of 59.04. The company has a market capitalization of £4.18 billion, a P/E ratio of 1,861.82, a PEG ratio of 3.27 and a beta of 0.90.

LondonMetric Property Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, August 29th were given a GBX 2.85 ($0.04) dividend. This represents a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, August 29th. LondonMetric Property’s payout ratio is currently 10,000.00%.

Insider Buying and Selling

In related news, insider Martin McGann sold 500,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of GBX 204 ($2.66), for a total transaction of £1,020,000 ($1,331,940.45). 6.29% of the stock is currently owned by company insiders.

About LondonMetric Property

(Get Free Report)

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.