Share Name Share Symbol Market Type Share ISIN Share Description
Derwent London Plc LSE:DLN London Ordinary Share GB0002652740 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  -38.00 -1.39% 2,688.00 25,692 11:21:39
Bid Price Offer Price High Price Low Price Open Price
2,686.00 2,692.00 2,750.00 2,674.00 2,750.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 240.20 252.50 224.99 11.9 3,019
Last Trade Time Trade Type Trade Size Trade Price Currency
11:21:39 AT 23 2,688.00 GBX

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26/9/202211:32Derwent London440

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Posted at 03/2/2023 08:20 by Derwent London Daily Update
Derwent London Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker DLN. The last closing price for Derwent London was 2,726p.
Derwent London Plc has a 4 week average price of 2,398p and a 12 week average price of 2,228p.
The 1 year high share price is 3,414p while the 1 year low share price is currently 1,783p.
There are currently 112,320,561 shares in issue and the average daily traded volume is 286,081 shares. The market capitalisation of Derwent London Plc is £3,019,176,679.68.
Posted at 26/9/2022 11:32 by nickrl
TRCML whilst London certainly facing increasing vacancy levels not sure its a SF situation by a long way yet so sitting on a 50% discount seems ludicrous but all sense of rational thinking is being abandoned currently. DLN are in reasonable shape over rental income currently but have some hefty committed (£650m) capex on buildings which im not clear whether they have raised the debt to cover it but they have no immediate refinancing until 2024. Never interested me this one because divi yield low and still is at this crashed share price and because scope for raising divi isn't great as its only just covered now but they do have new developments being crystallised with tenants so it won't need to drop.

Guess the attraction here is whether an overseas buyer moves in to hoover it up at this discount aided an abetted by being able to do it for 20% less dollars as well.

Posted at 26/9/2022 10:10 by trcml
Thank you for for your comments. They didn't influence me to sell (which I did a while back) but glad i did as I needed the money to buy more of LSEG. The steady decline in DLN smacks of the San Francisco syndrome.
Posted at 23/7/2022 10:02 by nickrl
TRCML public Transport operators in London still reporting significant reductions in passenger levels even on the "in work" days of Tue/Weds/Thurs of c65-70% of pre covid demand much lower on Mon/Fri. So you would think this would be a proxy for a longer term reduced demand for office space in the long run although I get this is going to be a slow burn. My initial view with DLN was they were at some risk with quite a high level of expiries or breaks coming due but to my surprise that hasn't been an issue for them so I guess there is certainly a place for offices in certain sectors that will underpin them. So i still see businesses will run down there overall office accommodation but more likely to be back office type space that gets reduced rather than that which allows collaboration.

Yield too lousy here to interest me though.

Posted at 08/4/2021 10:27 by philanderer
Posted at 20/3/2021 11:49 by philanderer
QD view – property one year on from lockdown

Businesses will still have a shiny HQ office and will continue to need attractive space to appeal to talent. They just may not need as much of it. This, I believe, will have a bigger impact on the older, poorly located offices than on prime offices.

There is likely to be a flight to quality that will benefit the likes of British Land (BLND), Great Portland Estates (GPOR), Derwent London (DLN) and Helical (HLCL), which all have quality portfolios in London. Rents are expected to stall from an overall drop in demand, however, supply of office space has been at historic lows for a while. Permitted development rights allowing office-to-residential conversion and development caution will limit supply.


Posted at 19/1/2021 14:09 by philanderer
Property brings highs and lows for Independent

Independent (IIT) investment trust may have been ‘wrong-footed’ by housebuilders last year but manager Max Ward is backing West End property company Derwent London (DLN).

In final results to 30 November, in which the £288m trust reported a net asset value decline of 2.2%, Ward said he took a new stake in Derwent London.

He said the group was ‘a high-quality West End property company whose shares looked cheap following concerns about the impact of working from home on office property prices’.

Not all of Ward’s property plays paid off last year and he said he has put housebuilders ‘under review’ after the trust was ‘badly wrong-footed by the appearance of Covid-19’.

He admitted he was ‘slow to recognise’ the change in sentiment towards the sector as the pandemic hit and was forced to make ‘substantial sales at what turned out to be distressed prices’.

‘This net result was that we ended up buying high and selling low – a textbook example of how not to ply our trade, about which we feel suitably sheepish,’ he said.


Posted at 16/12/2020 19:27 by nickrl
Office reduction, if its going to happen, will largely take place when leases breaks or expiry's come due and i remain of the view that DLN has one of the higher exposures to this over next 18-24mths. At best they won't get increased rents in future if they are going to retain tenants on existing floorspace.

DLN do have an advantage over the quality of there buildings so they aint going to disappear anytime soon but imv the share price doesn't reflect the downside risk here but probably supported by expectation of overseas buyer to take it out.

Posted at 03/12/2020 10:36 by nickrl
DLN has sold one of bigger properties at 4% below last valuation but in doing so has offloaded potentially 40% of lease breaks/expiries in 2021 so maybe a shrewd move.

However, separate RNS demonstrates that increasing rents at reviews/relets maybe becoming more challenging. OK they've increased the space let on this but at same rent and extended the lease by two years but at the cost of 11 months rent free.

DLN on forecast 2% yield feels overvalued for me but I guess share price is reflecting the income stream due from various developments which they've pre let.

Posted at 14/8/2020 12:50 by essentialinvestor
One aspect to the DLN share price is on any recent weakness it's bought back quickly.

It's bounced from this morning's low type area so many times now that I've lost count.

It's only a pattern until it's not etc.

Posted at 13/11/2018 10:12 by dplewis1
13-Nov-2018 07:02:16AS MARKETS look for direction following October's stumble, highly valued growth shares have yet to fully recapture their verve, as is the case with more speculative smaller stocks. But value picks and those firms with strong finances are faring better.Last week's solid third quarter trading update from Derwent London suggests that the real estate investment trust ticks both of those boxes and therefore remains a solid pick from what is still an unloved sector, thanks largely to Brexit fears.First highlighted in November 2016 at just under £24, the shares trade at almost a 20pc discount to the last stated net asset value of £37.17 per share, even though the vacancy rate is just 2.3pc, the loan-to-value ratio only 16.3pc and interest cover more than five times. In addition, exposure to new developments is relatively modest and the two major schemes in London - the Brunel Building in Paddington and 80 Charlotte Street in the West End - are proving popular. They are now 68pc and 90pc pre-let respectively, up from 40pc and 73pc at the first-half stage.Brexit jitters could still weigh on the stock but the lowly valuation already prices in a lot of these concerns, while any unexpected good news from the economy could be the catalyst for fresh momentum in the shares. Still a good option for patient, contrarian value-seekers. Questor says: hold Ticker: DLN Share price at close: £30.34
Derwent London share price data is direct from the London Stock Exchange
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