Unite Group

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Unite Group RNS, News & Media


Headline
31 Jul 2017
RNS press release - Total Voting Rights from Proactive Investors
26 Jul 2017
RNS press release - Interim Results from Proactive Investors
12 Jul 2017
RNS press release - Holding(s) in Company from Proactive Investors
10 Jul 2017
RNS press release - Quarterly Valuation Update for USAF and LSAV from Proactive Investors
30 Jun 2017
RNS press release - Total Voting Rights from Proactive Investors
26 Jun 2017
RNS press release - Holding(s) in Company from Proactive Investors
23 Jun 2017
RNS press release - Holding(s) in Company from Proactive Investors
23 Jun 2017
RNS press release - Additional Listing from Proactive Investors
22 Jun 2017
RNS press release - Conversion of 2.50% guaranteed convertible bonds from Proactive Investors
19 Jun 2017
RNS press release - Notice of Results from Proactive Investors
15 Jun 2017
RNS press release - Additional Listing from Proactive Investors
1 Jun 2017
RNS press release - Block listing Interim Review from Proactive Investors
31 May 2017
RNS press release - Total Voting Rights from Proactive Investors
25 May 2017
RNS press release - Acquisitions and Disposal from Proactive Investors
16 May 2017
RNS press release - Convertible Bond Optional Redemption Notice from Proactive Investors
11 May 2017
RNS press release - AGM Statement from Proactive Investors
11 May 2017
RNS press release - AGM Statement and Trading Update from Proactive Investors
9 May 2017
RNS press release - Withdrawal of Convertible Bond Redemption Notice from Proactive Investors
8 May 2017
RNS press release - Convertible Bond Optional Redemption Notice from Proactive Investors
28 Apr 2017
RNS press release - Total Voting Rights from Proactive Investors
27 Apr 2017
RNS press release - Additional Listing - Replacement from Proactive Investors
27 Apr 2017
RNS press release - Additional Listing - Replacement from Proactive Investors
25 Apr 2017
RNS press release - Additional Listing from Proactive Investors
21 Apr 2017
RNS press release - Dividend Declaration from Proactive Investors
17 Mar 2017
News - UNITE Group acquires interest in property in Durham from Proactive Investors
30 Nov 2016
RNS press release - Result of General Meeting from Proactive Investors
30 Nov 2016
RNS press release - Block listing Interim Review from Proactive Investors
30 Nov 2016
RNS press release - Total Voting Rights from Proactive Investors
25 Nov 2016
RNS press release - Holding(s) in Company from Proactive Investors
8 Nov 2016
RNS press release - Notice of General Meeting and Trading Update from Proactive Investors
31 Oct 2016
RNS press release - Total Voting Rights from Proactive Investors
24 Oct 2016
RNS press release - Acquisition from Proactive Investors
17 Oct 2016
RNS press release - Planning Consent from Proactive Investors
10 Oct 2016
RNS press release - USAF and LSAV Valuation Update from Proactive Investors
30 Sep 2016
RNS press release - Total Voting Rights from Proactive Investors
29 Sep 2016
RNS press release - Disposal of Two Assets to USAF from Proactive Investors
13 Sep 2016
RNS press release - Holding(s) in Company from Proactive Investors
9 Sep 2016
RNS press release - Director/PDMR Shareholding from Proactive Investors
31 Aug 2016
RNS press release - Total Voting Rights from Proactive Investors
2 Aug 2016
RNS press release - Non-Executive Director Resignation from Proactive Investors
29 Jul 2016
RNS press release - Total Voting Rights from Proactive Investors
26 Jul 2016
RNS press release - Interim Results from Proactive Investors
11 Jul 2016
RNS press release - Holding(s) in Company from Proactive Investors
8 Jul 2016
RNS press release - Valuation update for USAF and LSAV from Proactive Investors
6 Jul 2016
RNS press release - Holding(s) in Company from Proactive Investors
1 Jul 2016
RNS press release - Total Voting Rights from Proactive Investors
23 Jun 2016
RNS press release - Director/PDMR Shareholding from Proactive Investors
23 Jun 2016
RNS press release - Notice of Results from Proactive Investors
1 Jun 2016
RNS press release - Block listing Interim Review from Proactive Investors

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Strong 1H results and dividend up 22% by Maddoxx

  Thu, 27 Jul 2017 20:38:00 GMT

Unite have delivered another strong set of results at the half year, as I flagged below..

The EPRA (standard)Net Asset Value per share rose 7.9% year-on-year to 669p per share and EPRA earnings 11.9%.

The interim dividend has been raised 22% to 7.3p.

I've spotted an article by Josh White on Sharecast 'Unite Group lifts dividend as profits slide' HTTP://www.digitallook.com/news/news-and-announcements/unite-group-lifts-dividend-as-earnings-slide--2787311.html)

This 'slide' is because the property valuations haven't risen as strongly this year than last. So, as this is included in that statutory figures - on a comparative basis profits have fallen. It is due to this distortion that EPRA figures are used to standardize the measures of performance. So Josh ain't wrong but that headline is somewhat misleading.

Unite's outlook is positive for the 17/18 academic year with record levels of bookings at 91% reservations - and with the clearing yet to take place. The development pipeline is also looking very strong with 7213 beds through to 2020 (wholly owned) and a further 1407 in USAF (23% owned).


Regards Maddox


By Maddoxx



Re: Times Article 27.07.17 by Jar-Jar Both

  Thu, 27 Jul 2017 16:50:00 GMT

Yes, sorry, think it should be £2 million, didn't press the pound sign properly! !

By Jar-Jar Both



Re: Times Article 27.07.17 by TX2

  Thu, 27 Jul 2017 15:55:00 GMT

Interesting thanks;£32m seems a bit high however.

By TX2



Times Article 27.07.17 by Jar-Jar Both

  Thu, 27 Jul 2017 12:40:00 GMT

Cladding Risk at Student Halls

The largest provider of student accomadation may need to close 600 rooms and spend 32 million replacing cladding after the Grenfell Tower fire.

Unite, which owns 49,000 beds in 24 cities, said that tests on 132 of its buildings found that six in Bristol, London, Portsmouth and Leeds did not come up to standards.

Fire officials concluded that after some alterations the buildings were safe, but a second test was being conducted into the panels.

Unite said that if the second test found that the panels needed replacing, it could also result in lost earnings of as much as £1.5 million.


By Jar-Jar Both



NEW ARTICLE: Best property funds of 2017 by II Editor

  Fri, 14 Jul 2017 08:21:00 GMT

"Whether investing in physical property or in property shares, diversification is key for this year's winners. Andrew Pitts and Holly Black look at the real estate fund champions.Best physical property fundL&G UK Property 1-year return: 2.4%; ..."

LINK


By II Editor



Positive indication ahead of H1 results by Maddoxx

  Mon, 10 Jul 2017 10:51:00 GMT

Ahead of the half-year results, due on the 26th July, today we have the Quarterly Fund Valuation Report that gives a good early indication of performance. As well as Unite’s wholly owned student digs Unite run a couple of student property funds of which they own a percentage:

The two funds are:
USAF – Unite own 23%
LSAV – Unite own 50%

These funds are independently valued for their large financial institution investors, and the good news is that USAF is up 0.9% and LSAF up 0.5% during the quarter. Also, quoted

‘Reservations for Unite's portfolio stand at 89% for the coming 2017/18 academic year, compared to 87% at the same time last year, and is supportive of achieving target occupancy of 98% across the portfolio and rental growth of 3.0% - 3.5% for the full year.’

So solid progress is likely to be reported on the 26 July with strong demand and the outlook is positive for the full year. I note Mr Market likes the news and has marked the shares up 11p to 651p as I post.

Regards Maddox


By Maddoxx



Re: by Ripley94

  Sat, 17 Jun 2017 07:28:00 GMT

This must of been first post on this board ( link ) ... but i recall reading the post from PZookes on 10/05/10
( over 7 years ago ) I must off read for years before posting . Re EX Charman setting up rival company ( wonder how he got on ) This added to concerns of a bad pick.
Recall thinking id made another bo bo here .
This indicates to me its not about charts or any over clever stuff but is about time.


By Ripley94



Re: Open Offer - A big thank you by Ripley94

  Fri, 16 Jun 2017 21:06:00 GMT

Third slice and out @ 684. in since April 2010. Its about time.
Buy was @ 246 .. rights shortly after @ 231 did not take extra offered . ( J )


By Ripley94



Re: Increasing Shorts on Unite by Oxtrader

  Fri, 19 May 2017 10:43:00 GMT

Good morning,

Well observed & good facts. I honestly didn't realise the number of international students nationwide is actually pretty low. I do live in the South East, within a popular Student city. My un-researched opinion was skewed (wink wink )

I do agree this is largely a very safe long term hold with good visibility. Another point is I find it that there is alot of Private landlords with Buy-to-let houses in cities for Students. This you could argue is becoming increasingly less popular now with the loss in tax relief & rises in stamp duty. All in Unite's favour.


By Oxtrader



Re: Increasing Shorts on Unite by TX2

  Fri, 12 May 2017 13:27:00 GMT

I am a holder of Unite shares.My general opinion is that the present valuation probably fairly represents the attractions of the company; generally there are very few obviously cheap shares around esp in decent companies and Unite is no exception.
Shorting shares in the present bull market has left many hedge funds with seriously burnt fingers & unless we see a change in general market sentiment to share valuations this could be the case here.

With regard to your observations it is perhaps worth pointing out that the vast majority of Unites rentals are to UK based students with just 6% to Students from rest of EU.Although overseas student application are down by circa 5% this year according to figures published a couple of months ago;it is worth noting that only about two thirds of overseas applicants end up with a place as most courses are over subscribed so it is unlikely there will be many empty places.
Currently about 60% of places are block rented to Universities on long term contracts at agreed rentals.This will increase as Unite are increasingly working with Universities,the new 3000 bed complex at Aston Uni being a case in point.Bookings overall are up this year on already high previous levels so we have very high visibility of earnings.
Unite is presently not investing in London as it is unable to achieve its minimum initial investment return of 7% so I am not too worried about the risk of declining property values.
Obviously there are a number of other quoted & unquoted student accommodation suppliers so we have to watch we do not move from a present shortage to an oversupply situation which could affect rentals but generally I think the prospects of a decent return remain sound.


By TX2



Increasing Shorts on Unite by Oxtrader

  Thu, 11 May 2017 17:19:00 GMT

Popped up onto my Twitter feed this morning that Shorts are heavily rising against Unite.

LINK

I suppose it does have some reason for support

- Immigration affecting new students [Cons are likely to win]
- Property prices are slowing
- Near 5 year highs

Just pointing out some views on why this is increasingly becoming a target.


By Oxtrader



Another insightful RNS from Unite by Maddoxx

  Thu, 09 Mar 2017 14:11:00 GMT

A disposal of a student property in London for £135m. This time the buyer is another quoted specialist student property REIT GCP Student Living (DIGS). GCP will be getting an initial yield on purchase of 4.5%. What is interesting is that the property was in Unite's books valued at 6% lower which puts it on a yield of 4.7% indicating how conservatively valued UTG's assets might be.

Unite's share price is already well below the last reported NAV of 647p - if this 6% under valuation of asset values is consistent across the portfolio the NAV would be 710p.


By Maddoxx



Investors Chronicle Buy Tip by Maddoxx

  Sat, 04 Mar 2017 13:14:00 GMT

Investors Chronicle have tipped Unite this week, following the results:

Bull points:

>> Record reservation levels

>> Strong earnings visibility

>> Solid rental growth

>> Reit status boosting the dividend

Bear points:

>> Uncertainty over foreign student numbers

>> Strong competition for land

IC View: 'Earnings growth in the next few years is likely to be significant. And while there may be doubts about the number of overseas students arriving, there is still a huge shortage of purpose-built space.' 'And yet the shares are trading at a noteworthy discount to forecast net asset value. Buy.'

HTTP://www.investorschronicle.co.uk/2017/03/02/tips-and-ideas/share-tips/tips-of-the-week/unite-making-more-beds-HFw1JGvRVMXAsAfT4KfiYJ/article.html


By Maddoxx



Solid results, div up 20% & +ve outlook by Maddoxx

  Thu, 23 Feb 2017 14:20:00 GMT

Extremely solid full year results from Unite the highlights being:

>> Final dividend up 26% to 12p (2015: 9p) making 18p for the year up 20%overall;

>> EPRA Net Asset Value up 12% to 646p per share;

>> Like-for-like rental growth 3.8% for the full year (2015: 3.8%);

>> The statutory reported profit is £201.4 million (2015: £388.4 million), down on 2015 due to the large property revaluation gain taken into the 2015 figures; and

>> Conservatively financed loan-to-value LTV of 34%.

The outlook for Unite is positive as well:

>> Current reservations at record levels for 17/18 academic year at 73%;

>> No material impact seen or anticipated from Brexit;

>> Supply/Demand imbalance continues with 185k more applicants than uni places in 16/17;

>> Unite rental growth of 3-3.5% in 2017.

Mr Market appears to have liked these results with the share price at 626p at close from 611p the previous night.

Regards, Maddox


By Maddoxx



A strategically significant acquisition by Maddoxx

  Fri, 10 Feb 2017 09:41:00 GMT

Unite have made a substantial £227m acquisition of Aston Student Village comprising 3067 beds over five properties on the campus of Aston University in central Birmingham. Although it doesn't say so I presume bought from Aston University.

HTTP://www.investegate.co.uk/unite-group-plc--utg-/rns/acquisition/201702100700065451W/

Reflecting this hot sector of the property market and quality of the asset the yield on purchase is 5% - but Unite intend to grow this to over 6%. I'd pick out a couple of points of significance:

>> The yield of 5% is pretty good as it's as good as guaranteed as these properties are the only accommodation offered to Aston's c. 11,000 students;

>> The deal reflects UTG's access to substantial funding;

>> UTG's existing scale of operation and infrastructure puts it in a strategically strong position in the likely consolidation of the sector; and

>> This deal will put Unite as prime candidate for similar deals by other universities looking to realize the value in their student accommodation assets.

Whilst, we're foregoing the 3% development yield gain on this new approach we'll be seeing the benefit far earlier in NAV and EPRA earnings. It's also worth noting that Unite is still very conservatively financed with loan-to-value (LTV) rising to 38% from 35% previously; and with the ability to sell its developed properties into either of its two managed funds (USAF or LSAF). Unite has unique advantages to compete effectively in this attractive sector of the property market.

Regards, Maddox


By Maddoxx