Share Name Share Symbol Market Type Share ISIN Share Description
Unite Group LSE:UTG London Ordinary Share GB0006928617 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -0.09% 548.50p 548.00p 549.00p 551.00p 544.50p 549.50p 461,561.00 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 208.8 388.4 164.2 3.3 1,217.74

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Date Time Title Posts
09/11/201621:14Unite with Charts - Student Property Development542.00
08/2/201116:47Reaves Utility Income Fund - Monthly Dividend US$5.00
20/11/200914:04Warren Buffet1.00
20/4/200914:34What do you think of this stock?1.00
21/1/200809:52UNITE : NAV Ј3.05 , shares Ј1.68 and climbing500.00

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Unite Group (UTG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16:49:24546.179225,035.71NT
16:49:24546.011,3267,240.09NT
16:35:41548.501,1796,466.82NT
16:35:12548.5096,666530,213.01UT
16:30:03549.00113620.37NT
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Unite Group (UTG) Top Chat Posts

DateSubject
02/12/2016
08:20
Unite Group Daily Update: Unite Group is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker UTG. The last closing price for Unite Group was 549p.
Unite Group has a 4 week average price of 555.88p and a 12 week average price of 589.78p.
The 1 year high share price is 667.50p while the 1 year low share price is currently 542p.
There are currently 222,013,075 shares in issue and the average daily traded volume is 524,129 shares. The market capitalisation of Unite Group is £1,217,741,716.38.
09/11/2016
21:14
kpwf: Hi Maddox Yes I'm a UTG shareholder. In my opinion the shares (trading at a discount to the last reported NAV) are currently undervalued when you compare them with other shares in the sector which trade at a premium. Based on recent forecasts the dividend should increase following conversion to a REIT and I am still expecting good increases in NAV going forward bearing in mind that dividends should be fully covered by EPRA EPS. An increase in NAV combined with a reduction in the discount should hopefully drive a reasonable increase in the share price. As a private investor this is just my personal opinion and I might be completely wrong, but I remain a long term holder.
08/11/2016
11:52
maddox: Another positive trading update from Unite this morning covering the current 2016/17 academic year. Key points: >> Occupancy 98% >> Rental growth + 3.8% >> On track for EPS yield growth of 4.5% for 2016. >> Market - 2016/17 sees record student numbers up c.40k The growth in student numbers is further exacerbating the existing under-supply of student accommodation. Another positive point is that the growth has been strongest in Unite's target locations. With a positive outlook and development pipeline of a further 5,500 beds transparency of future growth in NAV and income is excellent and with Reit conversion will be seeing a likely 10% increase in the payout ratio. The future is of course uncertain but it's difficult to find any points of concern that would explain the recent fall in the share price. As I post the share price is 566p against last reported NAV of 620p as at 30 June. Regards, Maddox
08/11/2016
11:46
kpwf: The trading update this morning is forecasting an "EPS yield" of around 4.5% for FY16. This as I understand it is earnings as a percentage of the share price - in effect the PE ratio expressed the other way round. If so, then presumably the 4.5% refers to the EPRA earnings (ie based on rental income only) and not statutory earnings, since based on the statutory EPS already reported for H1 (48.3p), you would expect the yield to be much higher for the full year. Can anybody help to explain this please.
03/11/2016
11:21
maddox: A tip for Unite investors.... The hedgies have to borrow stock in order to sell short. Typically, the Nominees holding investors' shares will lend the stock to shorters for a fee. If you object to your shares being used to drive down the share price of your holding - you can prevent it. Just place a Limit Order to sell your holding at a much higher price - say for UTG the 770p JPM target. This prevents the Nominee from lending your stock or makes them have to recall it from the shorter. Regards, Maddox
31/10/2016
22:32
buzztrader: #Morgan Stanley report from FT Alphaville#1: We think that international student numbers could fall as a result ofpotential stricter visa rules for non-EU students, who make up 25% of Unite'stenants, and because EU students, which make up 9% of Unite's tenants, facetuition fee hikes post Brexit vote – university applications from EU students arealready down 9% for the academic year starting Sep 17.#2: Falling affordability for UK students: UK students have formed the majorityof the increase in undergraduate student numbers in recent years, andpenetration has grown more among the less affluent than the more affluent.Less well off students are likely to face increasing affordability issues:i) maintenance grants have been converted to repayable loans, affecting 20% ofstudents (half of whom see the grant as essential for their studies); ii) tuition feesmay rise more from 2017; iii) 77% of recent graduates are worried about theirstudent debt.#3: Risk of oversupply and softening yields: We estimate the current pipeline ofpurpose built beds equates to about a quarter of existing beds. According to ourchannel checks, pockets of oversupply are appearing in some markets anddemand for secondary assets is softening.Impact on our numbers and rating: We cut rental growth from 4% to 3% pa, andnow assume 25bp yield expansion by Dec-17 (was 5bp) – our Dec-17 NAV falls by10%. We increase our target discount to 8% (was 0%) – we are taking away the4% premium for exposure to student assets and the 4% for developments. Wearrive at a price target of 590p (was 700p) (on par with the share price) whichputs it into the bottom third of our order of preference, thus the downgrade toUnderweight. The timing of our downgrade may not be perfect, but we see ahigher likelihood of negative than positive newsflow ahead. We would becomemore positive if Unite were to expand in growth markets abroad.
31/10/2016
09:40
maddox: Hi Chaps, I've been having a look at this dip in the share price and it appears that we have a couple of hedge funds shorting the stock just prior to the Morgan Stanley down grade report - Basso Capital Management & CQS (UK)LLP. Far be it for me to suggest that this is a coordinated bear raid. What is interesting is that the report is based on the student market contracting and this affecting Unite. However, it might also be expected to also affect ESP and DIGS - whereas their share prices have remained very resilient - DIGS is up as I post. Also, I'm far from persuaded by the report. There is a huge under supply of student accommodation. Last year 25,000 beds were added but student numbers increased by 60,000. There would have to be some cataclysmic event to bring this market into balance - so I'm satisfied that Unite is still an attractive investment in the short, medium and long-term. Unite's NAV was 620p at 30th June and Morgan Stanley share price target is 590p, other analysts targets are up to 770p so UTG are looking good value at the 550p share price as I post. What we are being presented with is a great opportunity to buy on the dip. However, as we have seen on previous Unite dips - it tends to be a spike - so you may need to be quick before the hedgies cover their positions and it charges back up again. Regards, Maddox
29/2/2016
21:30
maddox: Hi Wirral Owl, Yep, Unite have reported a 37% total shareholder return for the year - which is difficult to argue with. However, I'd caution against you expecting to see a 4-5% yield at the point that you invest. I doubt that Unite is ever likely to look that cheap, as Mr Market is likely to give the shares a premium in consideration of: >> Rental yield growth which has been consistently between 3-4%; >> Portfolio growth 1,200-2,200 beds per annum; >> Very stable market demand for student property; IMHO this asset class is undervalued - it's defensive in nature yet generating consistent growth that looks pretty reliable projected over a 3/5 year time horizon. It's this predictable uncorrelated performance that is driving the likes of the Welcome Trust to substantially increase its investment in the sector: '19 Jan 2016 - Goldman Sachs has joined forces with the Wellcome Trust, a British charitable foundation, in a £2bn student accommodation joint venture' So I can foresee Unite's share price rising to reflect these factors and the yield decreasing towards 2% (sp > 730p). This is not a prediction or a tip, the future is uncertain, but just my opinion. Regards, Maddox
24/2/2016
15:31
maddox: Unite posted their 2015 full year results yesterday, the highlights being: 'Excellent financial performance on all fronts >> EPRA earnings up 84% to £61.3 million from £33.3 million. Excluding the yield related element of the USAF performance fee, Adjusted EPRA earnings up 49% to £49.5 million. >> EPRA earnings per share up 66% to 28.6 pence from 17.2 pence in 2014. Excluding the yield related element of the USAF performance fee, Adjusted EPRA EPS up 34% to 23.1 pence. >> EPRA NAV per share up 33% to 579 pence (2014: 434 pence) making, together with dividends paid, a total return of 37% for the year. The calculation of EPRA NAV per share now reflects an assumption that the convertible bond will fully convert, resulting in dilution of 10 pence. Full year dividend of 15.0 pence up 34% (2014: 11.2 pence). Final dividend declared of 9.5 pence (2014: 9.0 pence). Like for like rental growth of 3.8% for the full year (2014: 3.3%).' Also the outlook is also exceedingly positive, the 2017 pipeline of new build complete and good progress on 2018. The other important news is that Unite will convert to a Real Estate Property Trust (REIT). This provides a beneficial tax status in exchange for Unite paying out 90% of its rental income as dividends - and this will further enhance the dividend yield. So it's difficult to explain the c.25p near 4% drop in the share price! One explanation might be that Mr Market was expecting even better results or another that perhaps an FI was taking the opportunity to cash-in their winnings? On the face of it - it looks to me that Unite beat the market consensus forecasts - so will need to take a closer look. Regards Maddox
05/10/2015
10:28
maddox: Despite the share price volatility we're experiencing Unite is progressing extremely well as confirmed by their fund valuations announced today: 'At 30 September 2015, USAF's property portfolio was independently valued at £2,017 million representing a like for like increase of 2.1% during the quarter (11.1% in the nine months to 30 September). The portfolio comprises 26,813 beds in 75 properties across 24 University towns and cities in the UK. LSAV's investment portfolio was independently valued at £720 million, up 2.3% on a like-for-like basis in the quarter (14.8% in the nine months to 30 September). Following the practical completion of the 759 bed Angel Lane development in Stratford in August, LSAV's investment portfolio now comprises 4,636 beds across 12 properties in London and three properties in Edinburgh. The increase in valuations is driven primarily by rental growth and eight basis points of yield compression in both USAF and LSAV on a like-for-like basis in the quarter (54 and 69 basis points respectively in the nine months to September). The overall USAF portfolio is now valued at an average yield of 5.8% and LSAV's portfolio at 5.1%.' ....and the letting demand remains extremely robust: 'The lettings cycle for the 2015/16 academic year is now largely complete. Unite's total portfolio of over 46,000 beds has achieved strong occupancy levels, with 99% of bed spaces let delivering rental growth of 3.8%.' This last piece of news obviously bodes well for the rest of the year. Place this organic growth on top of the further developments and acquisitions and the stars appear to be very much aligned for Unite. Regards, Maddox
23/2/2015
07:53
maddox: Hi Guys, In my post 395 on the 21/8/14 I predicted Unite's transformation: "Unite is maturing and the balance is shifting from development gains towards rental income. As Unite will need to recycle less cash back into development they will be able to increase dividends. This will drive the share price forward as the typical property investors seeking asset backed income come on board. We are in the midst of this transition and we may tread water as share price support moves from NAV to dividend yield. It might just be that rising interest rates highlight the attractiveness of a company that will be able to grow its dividends?" Well, these fantastic results demonstrate that this is happening. The robust growth in earnings (44%) has driven a 133% rise in dividends. The future is also looking positive with the existing pipeline likely to near double the dividend payout as it's built-out over the next few years by 2018. Regards, Maddox
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