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Unite Group (LON:UTG) Trading Down 10.8% - Here's Why

Unite Group logo with Real Estate background

Key Points

  • Unite Group PLC experienced a significant stock price drop of 10.8%, trading as low as GBX 628 ($8.42) on Thursday, amidst increased trading volume.
  • Despite the decline, Citigroup reaffirmed a "buy" rating for Unite Group, setting a price target of GBX 1,205, indicating positive outlook among analysts.
  • The company has a market capitalization of £3.03 billion and reported an earnings per share (EPS) of GBX 38 for the last quarter, suggesting a strong net margin of 79.68%.
  • MarketBeat previews the top five stocks to own by November 1st.

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

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Research Report on Unite Group

Unite Group Stock Down 0.6%

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

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

Insider Buying and Selling

In other news, insider Joe Lister bought 11,389 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was bought at an average cost of GBX 690 per share, for a total transaction of £78,584.10. 0.83% of the stock is owned by company insiders.

Unite Group Company Profile

(Get Free Report)

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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