Barratt Developments’ (BDEV) “Buy” Rating Reiterated at Citigroup

Citigroup reaffirmed their buy rating on shares of Barratt Developments (LON:BDEV) in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have a GBX 615 ($8.09) price objective on the real estate development company’s stock.

BDEV has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed a sector perform rating and set a GBX 575 ($7.56) price target on shares of Barratt Developments in a research report on Thursday. JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 560 ($7.36) price objective on shares of Barratt Developments in a report on Wednesday, July 17th.

Barratt Developments Price Performance

Shares of LON:BDEV opened at GBX 492.60 ($6.48) on Thursday. The company has a market capitalization of £7.14 billion, a P/E ratio of 2,141.74, a price-to-earnings-growth ratio of 9.09 and a beta of 1.63. The company’s 50-day moving average is GBX 513.92 and its 200 day moving average is GBX 491.36. The company has a debt-to-equity ratio of 4.52, a quick ratio of 0.93 and a current ratio of 4.92. Barratt Developments has a fifty-two week low of GBX 384.15 ($5.05) and a fifty-two week high of GBX 582.60 ($7.66).

Barratt Developments Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, September 26th will be given a GBX 11.80 ($0.16) dividend. This represents a dividend yield of 2.27%. This is a boost from Barratt Developments’s previous dividend of $4.40. The ex-dividend date is Thursday, September 26th. Barratt Developments’s dividend payout ratio is 12,173.91%.

Insiders Place Their Bets

In related news, insider Steven J. Boyes sold 118 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of GBX 483 ($6.35), for a total value of £569.94 ($749.43). Corporate insiders own 1.51% of the company’s stock.

Barratt Developments Company Profile

Barratt Developments plc engages in the housebuilding business in the United Kingdom. The company acquires and develops land; plans, designs, and constructs homes, apartments, penthouses, and communities, as well as undertakes mixed-use regeneration schemes; and develops retail, leisure, office, industrial, and mixed-use properties.