Londonmetric Property (LMP) Sets New 52-Week High at $185.70

Londonmetric Property PLC (LON:LMP)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 185.70 ($2.48) and last traded at GBX 184.40 ($2.47), with a volume of 0 shares changing hands. The stock had previously closed at GBX 184.40 ($2.47).

Several brokerages have issued reports on LMP. Canaccord Genuity boosted their price objective on shares of Londonmetric Property from GBX 160 ($2.14) to GBX 175 ($2.34) and gave the company a “hold” rating in a research note on Friday, December 22nd. Peel Hunt boosted their price objective on shares of Londonmetric Property from GBX 180 ($2.41) to GBX 195 ($2.61) and gave the company an “add” rating in a research note on Wednesday, November 29th. Numis Securities reissued a “hold” rating and issued a GBX 163 ($2.18) price objective (down from GBX 172 ($2.30)) on shares of Londonmetric Property in a research note on Wednesday, November 29th. Stifel Nicolaus reissued a “buy” rating and issued a GBX 177 ($2.37) price objective on shares of Londonmetric Property in a research note on Thursday, November 30th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 195 ($2.61) price objective on shares of Londonmetric Property in a research note on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Londonmetric Property presently has an average rating of “Hold” and an average target price of GBX 180.63 ($2.42).

The stock has a market capitalization of $1,280.00 and a P/E ratio of 768.33.

Londonmetric Property (LON:LMP) last posted its quarterly earnings results on Wednesday, November 29th. The company reported GBX 4.20 ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of GBX 4.20 ($0.06). Londonmetric Property had a net margin of 192.05% and a return on equity of 15.33%. The business had revenue of GBX 4,063 million for the quarter.

The business also recently declared a dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 7th will be paid a dividend of GBX 1.85 ($0.02) per share. The ex-dividend date is Thursday, December 7th. This represents a dividend yield of 1.06%.

In related news, insider Martin McGann purchased 62,500 shares of the stock in a transaction dated Friday, September 29th. The shares were acquired at an average cost of GBX 167 ($2.23) per share, with a total value of £104,375 ($139,557.43).

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About Londonmetric Property

LondonMetric Property Plc is a property investment and development company. The Company’s segments include Retail, Distribution, Offices, Residential and Development. The Company is involved in retailer-led distribution, out of town and convenience retail. The Company’s portfolio includes distribution and retail businesses across the United Kingdom.

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