Derwent London stock faces a lower Berenberg target

Published on 09/29/2026 at 06:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Derwent London stock carries a GBp 2,071 target, down from GBp 2,210 on September 14, 2026. First-half EPRA EPS fell 6.7 percent to GBp 48.70.

Moderne Bürogebäude in London, Symbolbild für Derwent London plc Immobilienportfolio — Fotorealistisches Bild moderner Bürohochhäuser in London zeigt Derwent London plc GB0002652740 Immobilienportfolio, Illustration mit AI erstellt.

Derwent London stock (ISIN GB0002652740) was last at GBp 1,798.00 on the London Stock Exchange on September 28, 2026, down 0.66 percent from the prior close of GBp 1,810.00. The latest broker revision lowers the valuation bar while the London office specialist works through weaker property metrics.

Berenberg trims its target

Morningstar reported on September 14, 2026, that Berenberg cut its Derwent London price target to GBp 2,071 from GBp 2,210 and kept a buy rating. The revision is a quantified counterweight to the share price, which remains GBp 273.00 below the revised target.

MarketBeat reported on September 21, 2026, that eight analysts had a consensus Hold rating and an average 12-month target of GBp 1,889. That average stood GBp 91.00 above the September 28 reference price, showing why the broker picture is mixed rather than uniformly bullish.

First-half metrics show pressure

Derwent London's first-half 2026 EPRA net tangible assets per share fell to GBp 3,157 from GBp 3,225 at December 2025, a decline of 2.11 percent. The Armchair Trader reported on September 24, 2026, that EPRA earnings per share fell 6.7 percent to GBp 48.70 and net rental income declined 1.2 percent to GBP 92.9 million.

The same first-half comparison showed a negative 0.4 percent total accounting return. For investors, the key tension is visible in the numbers: rental income softened, but the stock still trades below the reported net tangible asset value per share.

Portfolio value and trading range

Derwent London says on its investor page that its commercial real estate portfolio was valued at GBP 5.0 billion on June 30, 2026, across 5.2 million square feet. The portfolio is concentrated in central London and the company describes itself as a London office-focused REIT, making property values and rental income central to the equity case.

On September 28, 2026, the stock traded between GBp 1,798.00 and GBp 1,839.00, with volume of 120,561 shares. Its 52-week range was GBp 1,469.33 to GBp 2,196.00, placing the reference price GBp 398.00 below the yearly high.

Stock stays below its yearly high

Derwent London stock was last at GBp 1,798.00 on the London Stock Exchange on September 28, 2026, with a market capitalization of GBP 2.0 billion and 120,561 shares traded.