Unite Group (LON:UTG) Stock Price Down 10.8% - Here's What Happened

Key Points

• Unite Group PLC's stock price fell by 10.8% during trading, closing at GBX 630.50 ($8.47) after reaching a low of GBX 628 ($8.43) amidst a significant increase in trading volume.
• Despite the decline, Citigroup maintained a "buy" rating on the stock with a price target of GBX 1,205, reflecting confidence in its performance.
• The company has a market capitalization of £3.08 billion and reported earnings of GBX 38 per share for the last quarter with a net margin of 79.68%.

Unite Group PLC (LON:UTG - Get Free Report)'s stock price was down 10.8% during trading on Wednesday . The company traded as low as GBX 628 ($8.43) and last traded at GBX 630.50 ($8.47). Approximately 4,407,595 shares changed hands during trading, an increase of 73% from the average daily volume of 2,545,748 shares. The stock had previously closed at GBX 706.50 ($9.49).

Analyst Ratings Changes

Separately, Citigroup reaffirmed a "buy" rating and set a GBX 1,205 price objective on shares of Unite Group in a research report on Friday, August 15th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of GBX 1,205.

Unite Group Stock Down 10.8%

The firm has a market cap of £3.08 billion, a price-to-earnings ratio of 905.89, a P/E/G ratio of 3.20 and a beta of 1.24. The firm's 50 day moving average price is GBX 720.30 and its two-hundred day moving average price is GBX 792.78. The company has a debt-to-equity ratio of 38.76, a current ratio of 1.58 and a quick ratio of 0.73.

Unite Group (LON:UTG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported GBX 38 earnings per share for the quarter. Unite Group had a net margin of 79.68% and a return on equity of 6.45%. As a group, sell-side analysts forecast that Unite Group PLC will post 47.9341004 earnings per share for the current fiscal year.

Insider Activity

In other Unite Group news, insider Joe Lister acquired 11,389 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was acquired at an average cost of GBX 690 per share, with a total value of £78,584.10. Insiders own 0.83% of the company's stock.

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.

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