British Land (LON:BLND) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

British Land Company PLC (LON:BLND)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 408.98 ($5.47) and traded as high as GBX 437.80 ($5.86). British Land shares last traded at GBX 428.20 ($5.73), with a volume of 3,456,130 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on BLND shares. Berenberg Bank upped their price target on shares of British Land from GBX 469 ($6.27) to GBX 500 ($6.69) and gave the stock a “buy” rating in a report on Friday, June 7th. Shore Capital reaffirmed a “buy” rating on shares of British Land in a report on Wednesday, July 3rd. Citigroup reissued a “neutral” rating on shares of British Land in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of British Land in a research report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, British Land presently has an average rating of “Hold” and an average target price of GBX 455 ($6.09).

British Land Stock Performance

The company has a 50 day simple moving average of GBX 419.45 and a 200-day simple moving average of GBX 408.98. The company has a debt-to-equity ratio of 45.09, a current ratio of 0.59 and a quick ratio of 0.25. The stock has a market cap of £3.97 billion, a P/E ratio of -335.97, a price-to-earnings-growth ratio of 6.76 and a beta of 1.55.

Insiders Place Their Bets

In other British Land news, insider Irvinder Goodhew bought 3,504 shares of British Land stock in a transaction that occurred on Wednesday, July 10th. The shares were bought at an average price of GBX 412 ($5.51) per share, with a total value of £14,436.48 ($19,310.43). Insiders bought a total of 3,611 shares of company stock valued at $1,488,936 over the last quarter. 0.23% of the stock is owned by corporate insiders.

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.