Life Science REIT (LON:LABS) Shares Down 4.9% – Here’s What Happened

Shares of Life Science REIT plc (LON:LABS) dropped 4.9% during trading on Monday . The company traded as low as GBX 39 ($0.49) and last traded at GBX 39 ($0.49). Approximately 583,238 shares were traded during trading, a decline of 43% from the average daily volume of 1,031,143 shares. The stock had previously closed at GBX 41 ($0.52).

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LABS. Jefferies Financial Group cut their price objective on shares of Life Science REIT from GBX 45 ($0.57) to GBX 36 ($0.46) and set a “hold” rating for the company in a research report on Friday, August 30th. Shore Capital reiterated a “buy” rating on shares of Life Science REIT in a research note on Thursday, September 26th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 57 ($0.72) price objective on shares of Life Science REIT in a report on Thursday, October 3rd.

Life Science REIT Stock Performance

The company has a market cap of £138.95 million, a price-to-earnings ratio of -658.00 and a beta of 0.08. The business has a fifty day moving average price of GBX 38.62 and a 200 day moving average price of GBX 36.13.

Life Science REIT Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 3rd were given a GBX 1 ($0.01) dividend. The ex-dividend date was Thursday, October 3rd. This represents a yield of 3.11%. Life Science REIT’s dividend payout ratio is currently -3,333.33%.

Life Science REIT Company Profile

Life Science REIT plc (the Company) is a closed-ended Real Estate Investment Trust (REIT) incorporated in England and Wales on 27 July 2021. The Company began trading on 19 November 2021 and its shares are admitted to trading on the Premium Listing Segment of the Main Market of the London Stock Exchange.