$DLN$GPOR$LAND Mike Prew, analyst at Jefferies, the investment bank, said the share prices of Derwent, Great Portland and their larger peers British Land and Land Securities may have further to fall after the vote to leave the EU meant that “all the black swans landed at once”. #sell
The chief executive of property company Derwent London sold £1.5m of shares in the group on the eve of the Brexit vote, escaping a 34 per cent slide that has since affected the stock.
John Burns sold 45,000 shares in Derwent London, the FTSE 250 property company he founded, on June 22 before voters went to the polls on June 23, according to a regulatory filing. #sell
Derwent London stock price chart
About Derwent London
Derwent London plc, through its subsidiaries, engages in the property investment, refurbishment, redevelopment, and operation of properties in central London. The company rents its properties for office and residential purposes. It qualifies as a real estate investment trust for federal income tax purposes. The company generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Derwent London plc is based in London, the United Kingdom.