Citigroup Downgrades Unite Group (LON:UTG) to Neutral

Key Points

• Citigroup downgraded Unite Group to “neutral” and cut its price target sharply from GBX 906 to GBX 579, implying about 7.22% upside from the prior close.
• Analyst sentiment remains broadly positive, with five “buy” ratings and three “hold” ratings; the consensus view is “Moderate Buy” with an average price target of GBX 608.12.
• Unite Group shares rose 0.4% to open at GBX 540, while the company reported quarterly earnings of GBX 27.10 per share and has a market capitalization of approximately £2.77 billion.

Unite Group (LON:UTG - Get Free Report) was downgraded by Citigroup to a "neutral" rating in a report released on Monday,London Stock Exchange reports. They presently have a GBX 579 price target on the stock, down from their previous price target of GBX 906. Citigroup's price objective suggests a potential upside of 7.22% from the company's previous close.

A number of other research firms also recently commented on UTG. Berenberg Bank restated a "buy" rating and issued a GBX 623 price objective on shares of Unite Group in a report on Tuesday, July 28th. JPMorgan Chase & Co. decreased their target price on Unite Group from GBX 690 to GBX 640 and set an "overweight" rating for the company in a report on Wednesday, July 29th. Jefferies Financial Group reissued a "hold" rating and set a GBX 503 target price on shares of Unite Group in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Unite Group from GBX 600 to GBX 640 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, UBS Group reiterated a "buy" rating and set a GBX 585 price objective on shares of Unite Group in a research note on Friday, July 3rd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of GBX 608.12.

Unite Group Trading Up 0.4%

Shares of UTG opened at GBX 540 on Monday. The company has a current ratio of 23.17, a quick ratio of 0.73 and a debt-to-equity ratio of 46.65. The firm has a market capitalization of £2.77 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 3.20 and a beta of 0.95. The stock's fifty day simple moving average is GBX 522.95 and its 200 day simple moving average is GBX 513.88. Unite Group has a twelve month low of GBX 442.20 and a twelve month high of GBX 760.50.

Unite Group (LON:UTG - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported GBX 27.10 earnings per share for the quarter. Unite Group had a negative return on equity of 10.94% and a negative net margin of 143.81%. On average, equities research analysts forecast that Unite Group will post 47.9341004 earnings per share for the current year.

About Unite Group

Unite Students is the UK's largest owner, manager and developer of purpose-built student accommodation, serving the country's world-leading Higher Education sector. We provide homes to 70,000 students across 157 properties in 23 leading university towns and cities. We currently partner with over 60 universities across the UK. Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us. Unite's accommodation is safe and secure, high quality and affordable.

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