|
Unite Group PLC - Bristol, England-based owner and manager of student accommodation - Launches a £100 million share buyback programme on Friday, as it confirms its 2025 guidance. The first half of the buyback will be run by Deutsche Bank AG and the second half by JP Morgan Securities PLC. It will be completed by June 30. Unite Group says further capital allocation will be kept under review as it progresses with its property disposal programme worth between £300 million and £400 million. In a trading update, Unite Group reiterates its 2025 guidance for adjusted earnings per share of between 47.5 pence and 48.3p. This would be up at least 1.9% from 46.6p in 2024. The company says 64% of beds have been sold for the upcoming 2026-27 academic year, slightly behind the prior year at 67%. It says sales progress to date is consistent with target for occupancy between 93% and 96% and rental growth between 2% and 3% for the 2026-27 academic year. ‘Our conversations with our university partners show continued demand for our high-quality, value-for-money accommodation, notwithstanding a slower start to the 2026-27 sales cycle,’ says Chief Executive Officer Joe Lister. The property portfolio of Unite Group’s two funds, USAF and LSAV, are valued at £2.84 billion and £2.08 billion, respectively, on December 31. This is down 0.7% on quarter but up 0.7% on year for USAF and down 1.4% on quarter but up 0.5% on year for LSAV, both on a like-for-like basis. Current stock price: 574.50 pence 12-month change: down 27% Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
