Top Page
Derwent London plc REIT
(LSE:DLN)
Derwent London plc REIT (DLN) vs. iShares MSCI United Kingdom ETF (EWC)
Derwent London plc REIT Business Overview & Revenue Model
Derwent London plc REIT Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 267.80M | 271.70M | 267.80M | 249.00M | 240.30M | 266.90M |
| Gross Profit | 186.70M | 192.70M | 195.30M | 192.50M | 188.00M | 196.60M |
| EBITDA | 148.90M | 152.50M | -438.00M | -242.40M | 277.10M | -55.50M |
| Net Income | 237.90M | 115.90M | -476.40M | -280.50M | 252.30M | -77.60M |
Balance Sheet | ||||||
| Total Assets | 5.33B | 5.21B | 5.03B | 5.51B | 5.91B | 5.53B |
| Cash, Cash Equivalents and Short-Term Investments | 91.70M | 71.40M | 73.00M | 76.60M | 105.50M | 50.70M |
| Total Debt | 1.59B | 1.50B | 1.37B | 1.28B | 1.32B | 1.10B |
| Total Liabilities | 1.76B | 1.67B | 1.52B | 1.43B | 1.47B | 1.22B |
| Stockholders Equity | 3.58B | 3.54B | 3.51B | 4.08B | 4.44B | 4.26B |
Cash Flow | ||||||
| Free Cash Flow | 80.00M | -76.90M | 96.30M | 109.40M | 127.30M | 85.40M |
| Operating Cash Flow | 80.00M | 64.60M | 97.00M | 111.40M | 128.90M | 85.80M |
| Investing Cash Flow | -173.30M | -101.90M | -98.00M | -51.70M | -240.00M | -62.40M |
| Financing Cash Flow | 101.80M | 35.70M | -2.60M | -88.60M | 128.10M | -27.20M |
Derwent London plc REIT Technical Analysis
Derwent London plc REIT Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £1.99B | 8.39 | 6.80% | 3.76% | 2.30% | ― | |
74 Outperform | £9.10B | 14.50 | 5.20% | 4.45% | -4.77% | ― | |
73 Outperform | £3.73B | 10.59 | 6.14% | 6.12% | -20.83% | ― | |
68 Neutral | £4.61B | 11.64 | 6.13% | 5.35% | 0.97% | ― | |
67 Neutral | £2.78B | 8.47 | 8.66% | 2.59% | -0.04% | 655.16% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | £1.37B | 11.18 | 6.47% | 2.31% | -0.63% | ― |
Derwent London plc REIT Corporate Events
Derwent London plc reported strong leasing activity with £13.8 million in new leases and renewals, and open-market lettings 10.5% above estimated rental value (ERV) for the first half of 2025. The company is positioned for growth, with a low vacancy rate and significant capital growth, driven by a robust Central London office market with high demand and limited supply. Derwent London continues to outperform the MSCI Central London Office index and has a strong outlook for total accounting returns, supported by strategic asset recycling and ongoing development projects. The company is actively reshaping its portfolio, with substantial disposals and reinvestments planned, and is well-positioned to capitalize on improving investment market liquidity.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London plc announced the retirement of Executive Director Nigel George, effective March 2026, after a long tenure since 1998. George played a crucial role in the company’s growth and major transactions, including the 2007 merger with LMS. He will continue to support the company as a consultant until 2028. This transition marks a significant change in leadership but ensures continuity in strategic projects, reflecting the company’s commitment to maintaining its strong market position and innovative approach.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London has secured a new 125-year headlease for its 50 Baker Street W1 development with The Portman Estate, consolidating ownership of the site and enabling the project to commence next year. This development, featuring efficient office space, retail, and residential flats, aligns with Derwent London’s sustainability goals and addresses the shortage of Grade A space in Marylebone, promising strong rental returns and further enhancing its partnership with The Portman Estate.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London plc has announced the sale of Francis House, a 43,000 sq ft office space, for £55.5 million to a Local Government Pension Scheme. This sale, scheduled to complete in early Q4 2025, reflects a 4.9% net initial yield and is expected to be slightly accretive to EPRA earnings. The transaction is part of Derwent London’s strategy to reinvest proceeds into higher-return opportunities, including projects in the West End. This move highlights the strengthening investor demand in the London office market and supports the company’s ongoing investment and development plans.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London plc has extended its £450 million revolving credit facility with Barclays, HSBC, and NatWest, maintaining its strong credit rating and flexible financing options. The facility will support the company’s development pipeline and sustainability initiatives, while the cancellation of certain credit tranches reflects strategic financial management. This move, alongside recent bond issuances, underscores Derwent London’s robust financial strategy and commitment to long-term growth.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London plc announced its current issued share capital, consisting of 112,290,929 ordinary shares with voting rights, and confirmed it holds no treasury shares. This information is crucial for shareholders to determine their notification requirements under the FCA’s Disclosure and Transparency Rules, impacting how they manage their interests in the company.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London has announced a significant lease extension and expansion with Adobe at the White Collar Factory, EC1. Adobe has increased its space by 25% to 67,000 sq ft and extended its lease until 2038, with a break option in 2033. This deal, which raises the overall rent to £4.5 million, underscores the value of high-quality office spaces and highlights the strength of Derwent London’s portfolio and the buoyancy of London’s office market.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London plc has announced the full redemption of its £175 million 1.5% convertible bonds due in 2025, utilizing existing liquidity resources without converting any bonds into equity. This action leaves the Group’s net debt position unchanged, indicating a stable financial strategy and potentially reinforcing its market confidence and operational stability.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London plc has announced a change in the voting rights held by the Canada Pension Plan Investment Board, which has decreased its stake from 3.09% to 2.98%. This adjustment in holdings reflects a minor shift in the company’s shareholder structure, which may influence future corporate governance and decision-making processes.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.
Derwent London plc has successfully priced a £250 million 7-year senior unsecured bond with a 5.25% interest rate, which will be listed on the London Stock Exchange. The proceeds will be used to repay existing credit facilities, refinance near-term debt, and fund development projects, including the upcoming Holden House W1 project. This bond issuance extends the company’s weighted average debt maturity to approximately 5 years, reflecting strong market confidence and supporting its strategic growth initiatives.
The most recent analyst rating on (GB:DLN) stock is a Buy with a £2600.00 price target. To see the full list of analyst forecasts on Derwent London plc REIT stock, see the GB:DLN Stock Forecast page.