UNITE Group plc (UTG) Earns “Add” Rating from Peel Hunt
UNITE Group plc (LON:UTG)‘s stock had its “add” rating reaffirmed by research analysts at Peel Hunt in a research report issued to clients and investors on Monday. They presently have a GBX 675 ($8.35) price objective on the stock. Peel Hunt’s price objective would indicate a potential upside of 13.45% from the company’s current price.
A number of other equities research analysts also recently commented on the company. Liberum Capital reaffirmed a “hold” rating and issued a GBX 600 ($7.43) price objective on shares of UNITE Group plc in a research report on Monday. Numis Securities Ltd reaffirmed an “add” rating and issued a GBX 712 ($8.81) price objective on shares of UNITE Group plc in a research report on Monday. Morgan Stanley lifted their price objective on UNITE Group plc from GBX 660 ($8.17) to GBX 700 ($8.66) and gave the company an “overweight” rating in a research report on Wednesday, August 31st. Jefferies Group lifted their price objective on UNITE Group plc from GBX 575 ($7.12) to GBX 595 ($7.36) and gave the company a “hold” rating in a research report on Friday, August 19th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 770 ($9.53) price objective on shares of UNITE Group plc in a research report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of GBX 678.86 ($8.40).
UNITE Group plc (LON:UTG) traded down 1.65% during midday trading on Monday, reaching GBX 595.00. The company’s stock had a trading volume of 715,545 shares. 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 capitalization is GBX 1.32 billion. The company has a 50 day moving average of GBX 625.86 and a 200-day moving average of GBX 627.32.
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The company also recently declared a dividend, which will be paid on Friday, November 4th. Shareholders of record on Thursday, October 6th will be given a dividend of GBX 6 ($0.07) per share. This represents a yield of 0.94%. The ex-dividend date of this dividend is Thursday, October 6th.
In other UNITE Group plc news, insider Lister,Joe sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of GBX 635 ($7.86), for a total transaction of £317,500 ($392,945.54).
UNITE Group plc Company Profile
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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