Unite Group (LON:UTG) Shares Down 8.8% – Here’s Why

Unite Group PLC (LON:UTG) shares traded down 8.8% during mid-day trading on Wednesday . The company traded as low as GBX 643.50 ($8.64) and last traded at GBX 644 ($8.65). 1,310,442 shares were traded during mid-day trading, a decline of 48% from the average session volume of 2,529,865 shares. The stock had previously closed at GBX 706.50 ($9.49).

Analysts Set New Price Targets

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

Unite Group Stock Performance

The firm’s fifty day moving average is GBX 720.30 and its 200-day moving average is GBX 792.78. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 38.76. The stock has a market capitalization of £3.13 billion, a PE ratio of 919.54, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24.

Unite Group (LON:UTG) last posted 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, research analysts anticipate that Unite Group PLC will post 47.9341004 earnings per share for the current year.

Insider Transactions at Unite Group

In other Unite Group news, insider Joe Lister bought 11,389 shares of the business’s stock in a transaction that occurred 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. 0.83% of the stock is currently owned by insiders.

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.