Insider Buying: LondonMetric Property Plc (LON:LMP) Insider Buys 50,000 Shares of Stock

LondonMetric Property Plc (LON:LMPGet Rating) insider Alistair Elliott acquired 50,000 shares of LondonMetric Property stock in a transaction dated Thursday, June 16th. The shares were purchased at an average price of GBX 236 ($2.86) per share, for a total transaction of £118,000 ($143,221.26).

LON:LMP opened at GBX 239.80 ($2.91) on Friday. The company has a current ratio of 1.46, a quick ratio of 0.98 and a debt-to-equity ratio of 39.93. LondonMetric Property Plc has a 12-month low of GBX 229.40 ($2.78) and a 12-month high of GBX 287.20 ($3.49). The stock has a 50-day moving average price of GBX 255.81 and a 200 day moving average price of GBX 264.27. The stock has a market capitalization of £2.35 billion and a P/E ratio of 3.02.

The firm also recently announced a dividend, which will be paid on Wednesday, July 13th. Investors of record on Thursday, June 9th will be given a dividend of GBX 2.65 ($0.03) per share. The ex-dividend date is Thursday, June 9th. This represents a dividend yield of 1.07%. This is a boost from LondonMetric Property’s previous dividend of $2.20. LondonMetric Property’s dividend payout ratio (DPR) is currently 0.11%.

LMP has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a GBX 305 ($3.70) target price on shares of LondonMetric Property in a research note on Friday, May 13th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 280 ($3.40) price target on shares of LondonMetric Property in a report on Thursday, May 5th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of LondonMetric Property in a report on Monday, March 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of LondonMetric Property in a report on Wednesday, May 11th. Finally, Barclays reaffirmed an “overweight” rating and set a GBX 320 ($3.88) price target on shares of LondonMetric Property in a report on Wednesday, June 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 300.50 ($3.65).

About LondonMetric Property (Get Rating)

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a diversified long income portfolio, with 16 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.

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