British Land (LON:BLND) Given New GBX 480 Price Target at Berenberg Bank

British Land (LON:BLND) had its target price trimmed by Berenberg Bank from GBX 500 ($6.35) to GBX 480 ($6.10) in a research note issued to investors on Wednesday morning,Digital Look reports. The brokerage currently has a buy rating on the stock.

British Land Stock Down 4.5 %

BLND opened at GBX 370.80 ($4.71) on Wednesday. British Land has a 1-year low of GBX 342.30 ($4.35) and a 1-year high of GBX 467.80 ($5.94). The company has a current ratio of 0.59, a quick ratio of 0.25 and a debt-to-equity ratio of 45.09. The stock has a market capitalization of £3.70 billion, a price-to-earnings ratio of -335.97, a P/E/G ratio of 6.76 and a beta of 1.55. The business has a 50 day moving average of GBX 411.78 and a 200-day moving average of GBX 413.38.

British Land Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 5th will be given a dividend of GBX 12.24 ($0.16) per share. This is a positive change from British Land’s previous dividend of $10.64. This represents a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, December 5th.

Insider Activity

In other British Land news, insider Mark Aedy purchased 2,120 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average cost of GBX 436 ($5.54) per share, with a total value of £9,243.20 ($11,744.85). In the last three months, insiders have acquired 2,228 shares of company stock worth $969,349. Corporate insiders own 0.21% of the company’s stock.

British Land Company Profile

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.