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Shares in Berkeley Group Holdings PLC (LSE:BKG) fell after Deutsche Bank downgraded the stock, citing lower profits and shareholder returns following a recent tactical shift. The housebuilder said at the start of this month that it will stop buying land and limit work-in-progress investment to current sales rates, a move that was said to reflect subdued demand and a tougher regulatory backdrop.

Shares of Berkeley Group Holdings PLC Unsponsored ADR (OTCMKTS:BKGFY - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has assigned a

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RBC Capital Markets has upgraded Barratt Redrow PLC (LSE:BTRW) to 'outperform' and Berkeley Group Holdings PLC (LSE:BKG) to 'sector perform', while slashing price targets across the sector by an average of 25%. Barratt, upgraded from 'sector perform' with a revised 350p target, is seen as oversold following a difficult period of post-merger integration with Redrow.

The house builder said it was unlikely to be able to make its required rate of return on investment in new land acquisitions due to rising tax and regulatory burdens on residential developments.