Derwent London (DLN)

Sector:

Property Investment Trusts

Index:

FTSE 250

3,262.00p
   
  • Change Today:
      16.00p
  • 52 Week High: 3,328.00
  • 52 Week Low: 2,761.00
  • Currency: UK Pounds
  • Shares Issued: 111.66m
  • Volume: 253,012
  • Market Cap: £3,642.36m
  • RiskGrade: 102

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 3,262.00p
Change Today 16.00p
% Change 0.49 %
52 Week High 3,328.00
52 Week Low 2,761.00
Volume 253,012
Shares Issued 111.66m
Market Cap £3,642.36m
RiskGrade 102

Derwent London Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.72% below the market average90.72% below the market average90.72% below the market average90.72% below the market average90.72% below the market average
94.44% below the sector average94.44% below the sector average94.44% below the sector average94.44% below the sector average94.44% below the sector average
Price Trend
55.58% above the market average55.58% above the market average55.58% above the market average55.58% above the market average55.58% above the market average
45.95% above the sector average45.95% above the sector average45.95% above the sector average45.95% above the sector average45.95% above the sector average
Income
74.76% below the market average74.76% below the market average74.76% below the market average74.76% below the market average74.76% below the market average
82.35% below the sector average82.35% below the sector average82.35% below the sector average82.35% below the sector average82.35% below the sector average
Growth
21.55% above the market average21.55% above the market average21.55% above the market average21.55% above the market average21.55% above the market average
5.88% below the sector average5.88% below the sector average5.88% below the sector average5.88% below the sector average5.88% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 6
Sell 0
Strong Sell 7
Total 17
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
  Interim Final
Ex-Div 12-Sep-19 02-May-19
Paid 18-Oct-19 07-Jun-19
Amount 21.00p 46.75p

Trades for 19-Sep-2019

Time Volume / Share Price
16:35 19 @ 3,262.00p
16:35 128,825 @ 3,262.00p
16:29 8 @ 3,276.00p
16:29 43 @ 3,274.00p
16:29 135 @ 3,274.00p

Derwent London Key Personnel

CEO Paul M. Williams
Finance Director Damian Wisniewski

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