JPMorgan Chase & Co. Cuts British Land (LON:BLND) Price Target to GBX 430
British Land (LON:BLND) had its target price trimmed by JPMorgan Chase & Co. from GBX 460 ($5.66) to GBX 430 ($5.29) in a research report report published on Friday, Stock Target Advisor reports. The brokerage currently has a neutral rating on the stock.
BLND has been the topic of a number of other reports. Morgan Stanley dropped their price objective on shares of British Land from GBX 540 ($6.65) to GBX 450 ($5.54) and set an overweight rating on the stock in a research report on Monday, May 11th. Barclays dropped their price objective on shares of British Land from GBX 385 ($4.74) to GBX 340 ($4.18) and set an underweight rating on the stock in a research report on Thursday, June 4th. Peel Hunt downgraded shares of British Land to an add rating and increased their price objective for the company from GBX 470 ($5.78) to GBX 500 ($6.15) in a research report on Thursday, June 4th. Royal Bank of Canada dropped their price objective on shares of British Land from GBX 455 ($5.60) to GBX 425 ($5.23) and set a sector performer rating on the stock in a research report on Friday, June 19th. Finally, UBS Group reissued a buy rating and issued a GBX 520 ($6.40) price objective (down from GBX 725 ($8.92)) on shares of British Land in a research report on Tuesday, June 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. British Land currently has an average rating of Hold and a consensus price target of GBX 464.31 ($5.71).
Shares of BLND opened at GBX 387.30 ($4.77) on Friday. British Land has a fifty-two week low of GBX 309.40 ($3.81) and a fifty-two week high of GBX 649.40 ($7.99). The firm’s 50 day moving average price is GBX 393.90 and its 200 day moving average price is GBX 471.80. The company has a market cap of $3.75 billion and a P/E ratio of -3.49. The company has a quick ratio of 0.25, a current ratio of 0.30 and a debt-to-equity ratio of 53.65.
In related news, insider Chris Grigg bought 38 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average cost of £397.86 ($489.61) per share, with a total value of £15,118.68 ($18,605.32).
British Land Company Profile
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £16.8bn (British Land share: £12.9bn) as at 30 September 2018 making us one of Europe's largest listed real estate investment companies. Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer.
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