Monday broker round-up
1st Jun 2015 09:48
Lamprell: Citi reiterates neutral recommendation and raises target to 155p. British Land: JP Morgan ups target to 970p from 950p and stays at overweight. Derwent London: JP Morgan raises target to 3,900p from 3,800p but keeps at overweight. Great Portland Estates: JP Morgan lifts target to 920p fr
Read moreDerwent London chairman sells £13.8m-worth of shares
12th May 2015 16:11
The non-executive chairman of Derwent London sold £13.8m worth of shares in the property investment and development group. Robert Rayne sold a total of 400,000 shares in two transactions for 3,451.80p each, pocketing a total of £13.8m. 200,000 shares were sold by Rayne directly, while 200,000 were
Read moreDerwent London awaits market reaction after general elections, posts strong Q1
7th May 2015 08:27
Property investment and development group Derwent London said "time will tell" if the general elections will affect the central London office market. Giving an update of its first-quarter performance, the property group said recent strong letting activity drove its vacancy rate down to 1.9% from 4.1
Read moreDerwent's full-year income benefits from higher rents on lettings
26th Feb 2015 10:22
Derwent said its full-year net rental income increased 5.8% to £128.7m, as the real estate investment group achieved higher margins on lettings. Pre-tax profit rose 7.8% to £62.3m in 2014, while earnings per share grew 6% to 57.08p. Net asset value climbed 28.4% to 2,908p. The strong performance cam
Read moreSector movers: Intu and British Land lead real estate stocks lower
18th Feb 2015 14:55
Real estate groups were among the worst performers in London on Wednesday with broker downgrades hitting shares of heavyweights Intu Properties and British Land. Shopping centre owner Intu fell 3% to 365.2p after analysts at Barclays lowered their rating on the stock from 'equal weight' to 'underwei
Read moreDerwent London gets go-ahead for West End housing scheme
3rd Dec 2014 12:12
Property group Derwent London has won planning approval to turn its head office in the capital's Savile Row into an upmarket housing development. Derwent said Westminster City Council had granted consent for the re-development scheme on the site of its existing 42,300 sq ft headquarters building at
Read moreDerwent rental income and sales value rise in Q3
12th Nov 2014 14:25
Real estate investment trust Derwent London said rental income and average sales values rose in the third quarter. In the three months to 30 September, the firm completed 70,000sq ft in letting, generating £4m per year in rental value, an 8.9% increase on the value it had estimated at the end of Jun
Read moreLondon open: Stocks edge higher ahead of FOMC, BoE minutes
17th Sep 2014 08:20
UK stocks edged higher on Wednesday morning after a positive session on Wall Street, though gains were only modest ahead of the hotly-anticipated Federal Open Market Committee (FOMC) statement and Bank of England minutes. London's FTSE 100 was trading 0.2% higher at 6,805 in early deals, after settl
Read moreWednesday broker round-up UPDATE
20th Aug 2014 10:50
BHP Billiton: Deutsche Bank raises target price from 1450p to 1500p and leaves its buy recommendation unchanged. Investec increases target price from 2175p to 2205p and maintains a hold recommendation. Big Yellow Group: Liberum Capital ups target price from 565p to 591p and keeps its buy recommenda
Read moreDerwent London pre-lets more space in refurbished Stephen St office
11th Jul 2014 08:02
Central London-focused property group Derwent London has pre-let 28,000 square foot of newly refurbished offices on Stephen Street near Tottenham Court Road. PR firm Freud Communications is taking a self-contained unit on the lower floors at 1 Stephen Street. The letting has been agreed on a leas
Read moreThursday broker round-up UPDATE
19th Jun 2014 08:56
BAE Systems: Westhouse Securities initiates with a target price of 360p and a sell recommendation. Berkeley Group: Deutsche Bank increases target price from 2587p to 2877p retaining a hold recommendation. Jefferies raises target price from 2477p to 2543p and keeps a hold recommendation. BG Group:
Read moreTuesday broker round-up UPDATE
17th Jun 2014 09:45
Aquarius Platinum: UBS cuts target price from 41p to 24p and keeps a neutral rating. BAE Systems: Berenberg initiates with a target price of 455p and a hold recommendation. British Land: Deutsche Bank ups target price from 520p to 580p, but still recommends selling. Capital & Counties: Deutsche B
Read moreSector movers: Housing and property stocks drop on fears of impending rate hike
13th Jun 2014 14:12
The prospect of a sooner-than-expected rate rise in the UK pushed property stocks and housebuilders lower on Friday, as investors reacted to comments made by policymakers during the Mansion House speeches. Bank of England (BoE) Governor Mark Carney warned on Thursday that the first hike in interest
Read moreMonday broker round-up UPDATE
9th Jun 2014 09:43
Aggreko: Panmure Gordon downgrades from buy to hold with a target price of 1748p. API Group: Numis shifts target price from 84p to 85p, downgrading from buy to add. ASOS: Jefferies reduces target price from 6200p to 5700p, while leaving its buy recommendation unchanged. Betfair Group: Investec ra
Read moreDerwent London eyes robust portfolio rental growth in 2014
8th May 2014 08:19
- Sees seven per cent portfolio rental growth in 2014 - Vacancy rate remains low - Momentum continues in a strong market FTSE 250 property firm Derwent London sees up to seven per cent portfolio rental growth in 2014 as momentum continues in a strong market. The group, which rents out offices in L
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