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

Key Points

• Shares of Unite Group PLC fell by 10.8% to close at GBX 630.50 ($8.45) after previously trading at GBX 706.50 ($9.47).
• Citigroup has restated a "buy" rating and set a price target of GBX 1,205 for the stock, with an average target price also at GBX 1,205.
• Unite Group manages over 70,000 students in the UK and is the largest developer of purpose-built student accommodation.

Shares of Unite Group PLC (LON:UTG - Get Free Report) traded down 10.8% on Thursday . The company traded as low as GBX 628 ($8.42) and last traded at GBX 630.50 ($8.45). 4,407,595 shares changed hands during mid-day trading, an increase of 73% from the average session volume of 2,545,748 shares. The stock had previously closed at GBX 706.50 ($9.47).

Analysts Set New Price Targets

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

Unite Group Trading Down 0.6%

The stock has a market cap of £3.07 billion, a PE ratio of 900.86, a PEG ratio of 3.20 and a beta of 1.24. The business has a 50-day moving average of GBX 717.84 and a 200 day moving average of GBX 791.66. The company has a debt-to-equity ratio of 38.76, a quick ratio of 0.73 and a current ratio of 1.58.

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

Insider Transactions at Unite Group

In other Unite Group news, insider Joe Lister purchased 11,389 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were purchased 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.

Unite Group Company Profile

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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