Unite Group’s (UTG) Hold Rating Reiterated at Berenberg Bank

Berenberg Bank reissued their hold rating on shares of Unite Group (LON:UTG) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. Berenberg Bank currently has a GBX 1,052 ($13.67) target price on the stock.

Separately, JPMorgan Chase & Co. reiterated a neutral rating and issued a GBX 1,100 ($14.29) price target on shares of Unite Group in a research note on Thursday, July 25th.

Unite Group Stock Performance

Shares of Unite Group stock opened at GBX 967 ($12.56) on Thursday. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 38.52. The company has a market cap of £4.72 billion, a PE ratio of 1,585.25, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24. The company has a 50 day moving average of GBX 929.05 and a 200-day moving average of GBX 937.58. Unite Group has a 1-year low of GBX 842 ($10.94) and a 1-year high of GBX 1,069 ($13.89).

Unite Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, September 19th will be given a GBX 12.40 ($0.16) dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a yield of 1.34%. Unite Group’s dividend payout ratio is presently 5,901.64%.

Insider Transactions at Unite Group

In other Unite Group news, insider Joe Lister purchased 2,777 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of GBX 900 ($11.69) per share, for a total transaction of £24,993 ($32,475.31). Company insiders own 0.30% of the company’s stock.

Unite Group Company Profile

Unite Group PLC, owns, manages, and develops purpose-built student accommodation facilities for the higher education sector in the United Kingdom. The company operates through Operations and Property segments. It manages rental properties, as well as offers asset management services. The company was founded in 1991 and is headquartered in Bristol, England.