Derwent London (DLN)

Sector:

Property Investment Trusts

Index:

FTSE 250

2,322.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 2,402.00
  • 52 Week Low: 1,779.00
  • Currency: UK Pounds
  • Shares Issued: 112.29m
  • Volume: 92,330
  • Market Cap: £2,607.40m
  • RiskGrade: 145

Derwent delivers solid rental growth in Q1

By Benjamin Chiou

Date: Thursday 09 May 2024

LONDON (ShareCast) - (Sharecast News) - Property investor and developer Derwent London has said that healthy demand has driven rental growth since the start of 2024.
The company, which owns nearly 70 buildings across Central London worth a combined £4.9bn, signed new leases totalling £5.4m over the year to date, with a further £4.3m under offer.

In the first quarter, £2.4m of lettings were signed at 9.2% above the estimated rental value (ERV) as of December, "with activity across the portfolio", Derwent said. Some £3.0m have been signed so far in the second quarter.

Meanwhile, by 31 March the EPRA vacancy rate had reduced to 3.7% from 4.0% at the start of the year.

Some 58% of space that was available to occupy in January has either been leased or is under offer, with good ongoing interest in the balance, the company said.

"We are seeing further strengthening in occupational demand for our well-located, design-led buildings. Rental growth has increased as demonstrated by our leasing performance against ERV," said chief executive Paul Williams.

The stock was up 0.6% at 2,231.12p by 0847 BST.

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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 2,322.00p
Change Today 10.00p
% Change 0.43 %
52 Week High 2,402.00
52 Week Low 1,779.00
Volume 92,330
Shares Issued 112.29m
Market Cap £2,607.40m
RiskGrade 145

Derwent London Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
17.63% below the market average17.63% below the market average17.63% below the market average17.63% below the market average17.63% below the market average
85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average
Price Trend
0.58% below the market average0.58% below the market average0.58% below the market average0.58% below the market average0.58% below the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Income
3.91% below the market average3.91% below the market average3.91% below the market average3.91% below the market average3.91% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Growth
54.14% below the market average54.14% below the market average54.14% below the market average54.14% below the market average54.14% below the market average
51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average

What The Brokers Say

Strong Buy 6
Buy 5
Neutral 6
Sell 1
Strong Sell 1
Total 19
buy
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 25-Apr-24 07-Sep-23
Paid 31-May-24 13-Oct-23
Amount 55.00p 24.50p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 1,098 @ 2,322.00p
16:35 1,492 @ 2,322.00p
16:35 46,066 @ 2,322.00p
16:35 253 @ 2,322.00p
16:35 255 @ 2,322.00p

Derwent London Key Personnel

CEO Paul M. Williams
CFO Damian Wisniewski

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