Royal Bank of Canada Initiates Coverage on Londonmetric Property (LMP)

Royal Bank of Canada Initiates Coverage on Londonmetric Property (LMP)

Royal Bank of Canada initiated coverage on shares of Londonmetric Property (LON:LMP) in a research report released on Tuesday, April 16th, ThisIsMoney.Co.Uk reports. The firm issued a sector performer rating and a GBX 200 ($2.61) target price on the stock.

LMP has been the subject of a number of other research reports. Liberum Capital reaffirmed a hold rating on shares of Londonmetric Property in a research note on Wednesday, April 3rd. Peel Hunt reaffirmed an add rating on shares of Londonmetric Property in a research note on Wednesday, April 3rd. Morgan Stanley upped their price objective on shares of Londonmetric Property from GBX 190 ($2.48) to GBX 200 ($2.61) and gave the company an equal weight rating in a research note on Thursday, March 14th. Finally, Barclays dropped their price objective on shares of Londonmetric Property from GBX 200 ($2.61) to GBX 195 ($2.55) and set an overweight rating for the company in a research note on Friday, February 15th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Londonmetric Property presently has a consensus rating of Hold and an average price target of GBX 192.75 ($2.52).

LON:LMP traded up GBX 1 ($0.01) during midday trading on Tuesday, reaching GBX 203 ($2.65). The stock had a trading volume of 1,455,673 shares, compared to its average volume of 1,270,000. The firm has a market cap of $1.41 billion and a price-to-earnings ratio of 7.63. The company has a debt-to-equity ratio of 56.62, a current ratio of 1.24 and a quick ratio of 1.20. Londonmetric Property has a 12-month low of GBX 171.50 ($2.24) and a 12-month high of GBX 205 ($2.68).

The company also recently declared a dividend, which was paid on Wednesday, April 17th. Investors of record on Thursday, March 14th were given a dividend of GBX 1.90 ($0.02) per share. This represents a dividend yield of 1%. The ex-dividend date was Thursday, March 14th. Londonmetric Property’s dividend payout ratio is currently 0.30%.

About Londonmetric Property

LondonMetric is a FTSE 250 REIT (ticker: LMP) that specialises in distribution, convenience and long income property. It focuses on strong and growing income and enhancing capital values. LondonMetric has 13 million sq ft under management.

Further Reading: Strangles

Related posts

Leave a Comment