Derwent London (DLN)

Sector:

Property Investment Trusts

Index:

FTSE 250

3,920.00p
   
  • Change Today:
    -94.00p
  • 52 Week High: 4,282.00
  • 52 Week Low: 2,884.00
  • Currency: UK Pounds
  • Shares Issued: 111.78m
  • Volume: 547,494
  • Market Cap: £4,381.64m
  • RiskGrade: 114

Derwent London ups interim dividend, agrees to sell The Buckley Building

By Iain Gilbert

Date: Thursday 08 Aug 2019

LONDON (ShareCast) - (Sharecast News) - British property investment and development business Derwent London saw total returns and net rental income increase during the first half of its trading year, leading the group to up its interim dividend payout.
Derwent London reported an EPRA net asset value per share of 3,852p, up 3.7% year-on-year, while new lettings totalled £18.1m, 7.5% above its December estimated rental value.

Net rental income rose 7.1% to £86.3m and total returns grew to 3.3% from the 3.1% recorded a year earlier.

Underlying earnings per share dipped to 51.34p from the 51.77p recorded in the first half of 2018.

On the back of its first-half performance, Derwent London upped its interim dividend 9.9% to 21p.

Elsewhere, the company agreed to sell the freehold of The Buckley Building, EC1 to CBRE Global Investors on Thursday.

Derwent London will offload the 85,100 square foot office building, acquired by the group back in 2007 and completely refurbished in 2013, for £103.0m before costs, 4.8% above its December 2018 book value.

The company said the sale price was achieved thanks to recent active management initiatives which increased income through rent reviews and a lease extension.

Chief executive Paul Williams said: "This disposal takes our total sales so far this year to over £180.0m, proceeds of which will be recycled into our substantial on-site development programme."

As of 0820 BST, Derwent London shares had picked up 1.35% to 2,928.98p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Derwent London Market Data

Currency UK Pounds
Share Price 3,920.00p
Change Today -94.00p
% Change -2.34 %
52 Week High 4,282.00
52 Week Low 2,884.00
Volume 547,494
Shares Issued 111.78m
Market Cap £4,381.64m
RiskGrade 114

Derwent London Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
92.37% below the market average92.37% below the market average92.37% below the market average92.37% below the market average92.37% below the market average
88.57% below the sector average88.57% below the sector average88.57% below the sector average88.57% below the sector average88.57% below the sector average
Price Trend
85.12% above the market average85.12% above the market average85.12% above the market average85.12% above the market average85.12% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
86.25% below the market average86.25% below the market average86.25% below the market average86.25% below the market average86.25% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average
Growth
6.59% below the market average6.59% below the market average6.59% below the market average6.59% below the market average6.59% below the market average
5.56% below the sector average5.56% below the sector average5.56% below the sector average5.56% below the sector average5.56% below the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 6
Sell 0
Strong Sell 5
Total 16
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Derwent London Dividends

  Latest Previous
  Final Interim
Ex-Div 30-Apr-20 12-Sep-19
Paid 05-Jun-20 18-Oct-19
Amount 51.45p 21.00p

Trades for 28-Feb-2020

Time Volume / Share Price
16:35 225,846 @ 3,920.00p
16:29 2 @ 3,926.00p
16:29 40 @ 3,926.00p
16:29 6 @ 3,926.00p
16:29 18 @ 3,926.00p

Derwent London Key Personnel

CEO Paul M. Williams
Finance Director Damian Wisniewski

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