According to a report issued to investors by numis on Tuesday, shares of Unite Group (LON:UTG) had their rating reiterated by analysts to ‘Add’.
The analyst stated that the investment firm has set a price target of 712 on shares of LON:UTG. Based on the brokers price target of 712, this means numis believes there is a potential increase of 17.59% from the current stock price of 605.5.
Unite Group has 222,326,000 shares which are currently outstanding with shareholders and have a price of 605.5 bringing Unite Group’s market capitalisation to 1.35B GBP.
The company’s 50 day moving average is 573.19 and its 200 day moving average is 599.69. The 52 week high Unite Group’s shares have reached is 667.5 whilst the 52 week low for the company’s shares is 541.57.
The Unite Group plc is a United Kingdom-based developer and operator of student accommodation. The Company provides a home for over 50,000 students in approximately 140 properties in over 28 of England and Scotland’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. The Property segment is responsible for its development and asset management strategy, and oversees its two co-investment vehicles. The Company rents its rooms both directly to students and to approximately 60 Universities across the United Kingdom. Its properties provide accommodation close to University campuses, transport and local amenities. It offers study bedroom, insurance, round the clock security, cleaning services and Wireless-Fidelity throughout its buildings. It also operates and runs approximately three funds and joint ventures.