Numis Securities Ltd Reiterates “Add” Rating for UNITE Group plc (UTG)
UNITE Group plc (LON:UTG)‘s stock had its “add” rating restated by stock analysts at Numis Securities Ltd in a report issued on Monday. They presently have a GBX 712 ($9.29) price objective on the stock. Numis Securities Ltd’s price target indicates a potential upside of 17.69% from the stock’s current price.
Several other research analysts have also recently weighed in on the stock. Liberum Capital reissued a “hold” rating and issued a GBX 600 ($7.83) price target on shares of UNITE Group plc in a report on Thursday, September 29th. Morgan Stanley increased their price target on shares of UNITE Group plc from GBX 660 ($8.62) to GBX 700 ($9.14) and gave the company an “overweight” rating in a report on Wednesday, August 31st. Jefferies Group increased their price target on shares of UNITE Group plc from GBX 575 ($7.51) to GBX 595 ($7.77) and gave the company a “hold” rating in a report on Friday, August 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 770 ($10.05) target price on shares of UNITE Group plc in a research report on Wednesday, July 27th. Finally, Peel Hunt upgraded shares of UNITE Group plc to an “add” rating and increased their target price for the stock from GBX 650 ($8.48) to GBX 675 ($8.81) in a research report on Monday, July 25th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of GBX 678.86 ($8.86).
UNITE Group plc (LON:UTG) opened at 598.98 on Monday. UNITE Group plc has a 1-year low of GBX 550.50 and a 1-year high of GBX 682.50. The company’s market cap is GBX 1.33 billion. The stock has a 50 day moving average of GBX 626.58 and a 200-day moving average of GBX 628.01.
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The company also recently declared a dividend, which will be paid on Friday, November 4th. Investors of record on Thursday, October 6th will be given a dividend of GBX 6 ($0.08) per share. The ex-dividend date is Thursday, October 6th. This represents a dividend yield of 0.94%.
In related news, insider Lister,Joe sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of GBX 635 ($8.29), for a total transaction of £317,500 ($414,436.76).
About UNITE Group plc
The Unite Group plc is a United Kingdom-based developer and operator of student accommodation. The Company provides a home for over 46,000 students in approximately 140 properties in over 30 of the country’s University towns and cities. It operates through two segments: Operations and Property. The Operations segment is responsible for the Company’s approximately 140 properties, including those owned by its co-investment vehicles.
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