UNITE Group plc (UTG) Given Add Rating at Numis Securities Ltd
UNITE Group plc (LON:UTG)‘s stock had its “add” rating restated by equities research analysts at Numis Securities Ltd in a research note issued to investors on Monday. They presently have a GBX 712 ($8.81) price target on the stock. Numis Securities Ltd’s target price would indicate a potential upside of 19.66% from the company’s previous close.
Several other equities research analysts also recently weighed in on UTG. Liberum Capital reiterated a “hold” rating and issued a GBX 600 ($7.43) price target on shares of UNITE Group plc in a report on Tuesday, July 26th. Jefferies Group reiterated a “hold” rating and issued a GBX 575 ($7.12) price target on shares of UNITE Group plc in a report on Wednesday, July 27th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 770 ($9.53) price target on shares of UNITE Group plc in a report on Wednesday, July 27th. Peel Hunt raised UNITE Group plc to an “add” rating and increased their price objective for the stock from GBX 650 ($8.04) to GBX 675 ($8.35) in a research note on Monday, July 25th. Finally, Morgan Stanley increased their price objective on UNITE Group plc from GBX 660 ($8.17) to GBX 700 ($8.66) and gave the stock an “overweight” rating in a research note on Wednesday, August 31st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of GBX 678.86 ($8.40).
UNITE Group plc (LON:UTG) traded down 1.65% on Monday, hitting GBX 595.00. The stock had a trading volume of 715,545 shares. UNITE Group plc has a 52-week low of GBX 550.50 and a 52-week high of GBX 682.50. The firm’s market cap is GBX 1.32 billion. The company has a 50-day moving average price of GBX 625.86 and a 200 day moving average price of GBX 627.32.
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The business also recently announced 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. The ex-dividend date of this dividend is Thursday, October 6th. This represents a yield of 0.94%.
In other UNITE Group plc news, insider Lister,Joe sold 50,000 shares of the stock in a transaction on 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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