LondonMetric Property (LON:LMP) Shares Cross Above 200 Day Moving Average of $186.57

LondonMetric Property Plc (LON:LMP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 186.57 ($2.30) and traded as high as GBX 196.40 ($2.43). LondonMetric Property shares last traded at GBX 194.70 ($2.40), with a volume of 2,785,648 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LMP shares. Shore Capital reissued a “buy” rating on shares of LondonMetric Property in a report on Wednesday, March 6th. Berenberg Bank raised shares of LondonMetric Property to a “buy” rating and boosted their price objective for the company from GBX 176 ($2.17) to GBX 229 ($2.83) in a report on Wednesday, March 6th.

LondonMetric Property Stock Up 0.8 %

The firm’s 50-day moving average price is GBX 193.75 and its 200 day moving average price is GBX 186.75. The company has a market capitalization of £4.00 billion, a price-to-earnings ratio of -1,033.16, a PEG ratio of 3.27 and a beta of 0.84. The company has a current ratio of 0.47, a quick ratio of 0.81 and a debt-to-equity ratio of 43.79.

LondonMetric Property Announces Dividend

The company also recently announced a dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, February 29th were given a GBX 2.40 ($0.03) dividend. This represents a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 29th. LondonMetric Property’s payout ratio is presently -5,263.16%.

Insider Activity

In other news, insider Katerina Patmore bought 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of GBX 192 ($2.37) per share, for a total transaction of £19,200 ($23,715.42). Corporate insiders own 5.14% of the company’s stock.

LondonMetric Property Company Profile

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.