Barclays upgraded shares of Hammerson (LON:HMSO) to an equal weight rating in a research note released on Thursday morning. The brokerage currently has GBX 520 ($7.45) target price on the real estate investment trust’s stock, up from their previous target price of GBX 450 ($6.44).
Several other research analysts also recently weighed in on the company. Credit Suisse Group upped their price target on Hammerson from GBX 500 ($7.16) to GBX 545 ($7.80) and gave the stock a neutral rating in a research note on Wednesday. Numis Securities reiterated a hold rating and set a GBX 559 ($8.00) target price on shares of Hammerson in a research report on Wednesday. Liberum Capital restated a hold rating and set a GBX 610 ($8.73) price target on shares of Hammerson in a report on Wednesday. Peel Hunt restated a hold rating and set a GBX 525 ($7.52) price target on shares of Hammerson in a report on Wednesday, April 11th. Finally, Goldman Sachs decreased their price target on Hammerson from GBX 625 ($8.95) to GBX 620 ($8.88) and set a buy rating on the stock in a report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of GBX 577.77 ($8.27).
Shares of LON HMSO traded up GBX 14.80 ($0.21) during midday trading on Thursday, hitting GBX 534.20 ($7.65). 4,426,093 shares of the company’s stock traded hands, compared to its average volume of 5,840,000. Hammerson has a 1 year low of GBX 430.40 ($6.16) and a 1 year high of £523.38 ($749.40).
Hammerson (LON:HMSO) last released its earnings results on Monday, February 26th. The real estate investment trust reported GBX 31.10 ($0.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of GBX 30.90 ($0.44) by GBX 0.20 ($0.00). Hammerson had a net margin of 97.06% and a return on equity of 3.36%. The company had revenue of £248.90 million during the quarter.
The firm also recently announced a dividend, which will be paid on Thursday, April 26th. Shareholders of record on Thursday, March 15th will be paid a GBX 14.80 ($0.21) dividend. This is a positive change from Hammerson’s previous dividend of $10.70. The ex-dividend date is Thursday, March 15th. This represents a yield of 3.32%.
In other news, insider Timon Drakesmith purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of GBX 461 ($6.60) per share, for a total transaction of £69,150 ($99,012.03).
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Hammerson is a FTSE 100 owner, manager and developer of retail destinations in Europe. Our portfolio of high-quality retail property has a value of around £10.5 billion and includes 23 prime shopping centres, 17 convenient retail parks and investments in 20 premium outlet villages, through our partnership with Value Retail and the VIA Outlets joint venture.
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