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GCP Student sees flat NAV for September quarter; bookings at 69% for coming academic year
StockMarketWire.com
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Student residential assets investor GCP Student said it expected net asset value per share would be roughly flat for the quarter ended September from the prior quarter.
At 30 September 2020, the estimated EPRA net asset value per ordinary share of the Company was 171.71 pence, representing a quarterly decrease of 0.07 pence or 0.04%.
The valuation of the company's portfolio was £1.01 billion, representing a like-for-like increase over the quarter of 0.7%.
The company declared a first interim dividend of 0.25 pence per ordinary share in respect of the quarter ended 30 September 2020.
Bookings across the group's portfolio of student accommodation for the forthcoming 2020/21 academic year were currently at 69%, with a substantial majority of about 86% of rooms booked now been occupied or are subject to nominations arrangements.
The substantial majority of those students had indicated that it is their current intention to occupy their booked rooms for the second term of the 2020/21 academic year (commencing in January 2021).
The company said it expected to collect approximately 62% of budgeted total income of £60.1 million for the 2020/21 academic year.
At 9:26am: (LON:GCP) Gcp Infrastructure Investments Limited share price was -1p at 108.2p
Story provided by StockMarketWire.com
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