Unite Dividends - UTG

Unite Dividends - UTG

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Unite Group Plc UTG London Ordinary Share GB0006928617 ORD 25P
  Price Change Price Change % Stock Price Last Trade
-45.00 -5.27% 809.50 16:35:27
Close Price Low Price High Price Open Price Previous Close
809.50 793.00 834.00 834.00 854.50
more quote information »
Industry Sector

Unite UTG Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

maddox: Unite (UTG) also provided today a further market update along with the fund valuation RNS. The deadline for accepting an offer of a university course was the 18 June. As you will be aware there has been much speculation as to students deferring due to Covid-19 and likely social distancing disruption to their ‘student experience’. However, this appears not to have occurred, the key points being: >> UCAS data showed a 1% increase in the number of applicants with an offer to start University this Autumn compared to 2019/20; >> This reflects a 3% increase in acceptances by UK 18-year olds as increased participation rates more than offset the demographic impact of fewer young people in the population. >> The number of students with a deferred start date was down 1% compared to 2019/20 as of 18 June. This clearly demonstrates the resilience and contra-cyclical nature of the market on which the PBSA sector depends. Unite are targeting a 90% occupancy for next academic year (2019/20 was 98%). Currently, bookings stand at 81% whereas they were 90% booked at the same time last year. However, the cancellation of A-Level exams and additional uncertainty over the awarding of results (appeals process and re-sit exams) that there is likely to be a last minute rush for accommodation. IMHO I think Unite will get closer to the previous 98% occupancy - whilst there is a greater risk that they don’t I’m sure they will be doing their level best to beat the 90%.
richard195: I must admit that I am finding it hard to understand the market at the moment. Everything suggest to proceed with caution over UTG shares and then they jump over the past few days.
maddox: Hi Oxman, Yes, very probably. UTG was hit along with Commercial Property on the Brexit Vote - the apparent rationale being that demand for office space would be hit. As UTG is in a completely different and uncorrelated sector - this is just bonkers. Mr Market sometimes gets it very wrong - which presents good opportunities if you are buying. Well done.
its the oxman: Thx. Have purchased some utg and digs. Seems student demand is certainly only going to grow looking out as far as we can. I don't buy distance learning for the majority and doubt students or uni/lecturers would opt for it unless forced. Questions over start to next term, cut to divs and nav , so might take a short term hit but so much of that is in price now.
rochdae: Yes, Maddox, I don't disagree with your analysis and I concur that UTG is a good, well managed business etc.. My point is that the disruption to business is an unknown really. Overseas students don't do 3 year degrees. They do postgrad for a year or courses over the summer. Why would someone from China stay in student accommodation when everything's going online? What we have here, as with many other stocks, is a bet on the virus situation. In fact, that's the whole gamble with the markets in general. I'm more pessimistic than you with the education sector. I think many universities will go to the wall this year, and the Government won't be there to help. But I hope not.. Roch
maddox: Good news from UTG on their Covid-19 response. UTG were very quick to respond positively to the predicament that both Universities and Students faced as a result of Covid. By waiving their contracts they will have given great relief to Students that will have been facing major stresses. However, at that point there was huge uncertainty as to what this and Covid would cost Unite. Today's update provides a much clearer picture, albeit uncertainty remains, and guess what - the impact isn't as bad as first estimates, or anyway near as bad as the share price appears to reflect. Also, the mitigation measures that Unite are taking are producing results: >> Cost-savings measures of £12 - £15m (on-top of £6m Liberty synergy savings); >> Pay cuts of 30% for Directors and bonuses deferred (20% cuts for Snr Mgrs); >> Development pipeline deferred to save cash; and >> Switching focus on recruiting UK Students to displace the anticipated fall in new Intl. Students in 20/21 academic year. This accompanied by reassuring comments from Richard Smith, CEO: "We are committed to doing the right thing for our customers, colleagues and other stakeholders, despite the unprecedented times we face." and "We will emerge stronger from this challenging time, building on our enhanced reputation with students and Universities." Having confidence in the management team is an absolute must for me as an investor. How a team responds to an unforeseen crisis is an 'acid test' moment as it reveals whether they can make the right often difficult decisions quickly and implement them effectively. Unite have risen to the challenge and are clearly managing the crisis effectively and communicating well. This is an excellent confidence builder in the midst of this awful crisis. Hope you all are staying safe, well and Covid-free. Maddox
speedsgh: Numis: Unite shares at attractive entry point - HTTPS://citywire.co.uk/funds-insider/news/the-expert-view-morrisons-cineworld-and-unite/a1335771#i=4 Numis has upgraded student accommodation group Unite (UTG) as it is better positioned than its peers due to its mid-market pricing. Analyst Robert Duncan upgraded his recommendation from ‘add’ to ‘buy’ with a target price of £12.50 on the shares, which fell 12% to 827.5p yesterday. Several universities have suspended face-to-face teaching due to the Covid-19 outbreak and while Unite said summer revenue would ‘come under pressure’ there has been no impact on sales. ‘We believe there are several options available to Unite to help mitigate any long-term impacts and it is worth noting that its focus on high and mid-tariff universities in markets with high demand, mid-market price point and broad appeal means it is better positioned than its peers providing premium-priced accommodation targeted predominantly at overseas students,’ he said.
maddox: So we've just taken a second leg down as the market responds to the Covid-19 concerns. UTG has fallen 17% as I post to 1112p. Italy has decided to close schools and Universities until mid-March and the infection rate in the UK is climbing and accelerating, currently 163, and probably more by the end of the day. Trying to put the risk to Unite's business into context, I just had a look at the latest mortality rates and the 10-19 and 20-29 age bands are both at 0.2%. It is also likely that this reflects those with other medical conditions. Listening to Sir Patrick Vallance, the Chief Scientific Adviser to the Government, this morning on BBC R4 Today these numbers are probably maximums due to the number of under-recorded infections. This suggests to me that it would be better policy to keep the students at college to ride-out this infection rather than sending them home to potentially contaminate their more vulnerable elders. Regards, Maddox
ben gunn: Maddox Returning to my perennial beef that this board short changes their shareholders by ignoring the majority of their profit steam in setting the divi; this year I now have a new beef: *They don't pay any taxes either, so instead of paying me a catch-up dividend the shareholders funds have grown from £2,073 Mn to £3,071 Mn. *By overpaying for the assets of liberty they have paid out some of this bunce but to Liberty shareholders but not to me and the other owners. *Of course, only a cynic would ask "who are those Liberty shareholders who got my divi instead of me?"
maddox: Well its been a long couple of weeks in the market, so thought I'd better revisit my last post on 'UTG knocking on the door of the FT100'. When I wrote that post UTG's share price was 1336p and mkt cap £4.84bn. Now the share price is 1160p (down 13%) and mkt cap £4.2bn and UTG's chances of making the draft are looking far less likely. UTG are now in ninth place from the top of the FT250 and now only larger than the bottom four firms in the FT100. So it appears that UTG have dropped disproportionately in this market correction triggered by Covid-19 virus fears. Regards Maddox
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