British Land (BLND) Stock Price Up 0.9% Following Analyst Upgrade

British Land Company Plc (LON:BLND)’s share price rose 0.9% during trading on Thursday after Credit Suisse Group raised their price target on the stock from GBX 630 to GBX 710. Credit Suisse Group currently has a neutral rating on the stock. British Land traded as high as GBX 646 ($8.69) and last traded at GBX 642.50 ($8.65). Approximately 4,209,242 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 4,850,000 shares. The stock had previously closed at GBX 637 ($8.57).

Other equities analysts also recently issued research reports about the company. Deutsche Bank raised British Land to a “buy” rating and upped their target price for the company from GBX 590 ($7.94) to GBX 660 ($8.88) in a research report on Monday, September 11th. Societe Generale reaffirmed a “hold” rating and issued a GBX 610 ($8.21) target price on shares of British Land in a research report on Friday, November 17th. HSBC reaffirmed a “hold” rating and issued a GBX 678 ($9.13) target price on shares of British Land in a research report on Friday, November 17th. Numis Securities reaffirmed a “hold” rating and issued a GBX 652 ($8.78) target price on shares of British Land in a research report on Friday, December 1st. Finally, cut British Land to a “hold” rating and cut their price target for the company from GBX 738 ($9.93) to GBX 678 ($9.13) in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. British Land has a consensus rating of “Hold” and a consensus price target of GBX 666.71 ($8.97).

In related news, insider William Jackson purchased 1,098 shares of the stock in a transaction dated Friday, October 6th. The stock was bought at an average cost of GBX 598 ($8.05) per share, for a total transaction of £6,566.04 ($8,837.20). Also, insider Lucinda Bell sold 60,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of GBX 622 ($8.37), for a total transaction of £373,200 ($502,288.02). Insiders have acquired 1,172 shares of company stock valued at $701,246 over the last 90 days.

The business also recently declared a dividend, which will be paid on Friday, February 9th. Stockholders of record on Thursday, January 4th will be issued a dividend of GBX 7.52 ($0.10) per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a dividend yield of 1.22%.

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British Land Company Profile

The British Land Company PLC is a real estate company. The Company owns, manages, develops and finances a portfolio of commercial properties focused on retail locations around the United Kingdom and London offices. It creates and operates places for people to work, shop and live in. Its segments are Offices and residential, Retail and leisure, Canada Water and Other/unallocated.

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