Unite Group Announces Acquisition of Empiric Student Property

The latest announcement is out from Unite Group plc ( (GB:UTG) ).

Unite Group plc has announced a recommended cash and share acquisition of Empiric Student Property plc, valued at approximately £723 million. This acquisition is expected to enhance Unite’s growth opportunities by expanding its portfolio with high-quality properties and increasing its market share in the student accommodation sector. The deal offers significant cost synergies, earnings and dividend accretion for shareholders, and a broader customer base, particularly targeting ‘returner’ students. Empiric shareholders will benefit from a premium on their shares and the opportunity to remain invested in the PBSA sector through Unite’s larger platform.

The most recent analyst rating on (GB:UTG) stock is a Buy with a £1070.00 price target. To see the full list of analyst forecasts on Unite Group plc stock, see the GB:UTG Stock Forecast page.

Spark’s Take on GB:UTG Stock

According to Spark, TipRanks’ AI Analyst, GB:UTG is a Outperform.

Unite Group plc’s overall stock score is primarily driven by its strong financial performance and strategic corporate events that bolster its growth prospects. The low P/E ratio and attractive dividend yield contribute positively to its valuation. However, technical indicators suggest caution due to current weak momentum.

To see Spark’s full report on GB:UTG stock, click here.

More about Unite Group plc

Unite Group plc operates in the student accommodation sector, primarily focusing on providing purpose-built student accommodation (PBSA) across the UK. The company targets students attending the UK’s strongest universities, offering a range of housing solutions tailored to different student needs.

Average Trading Volume: 905,789

Technical Sentiment Signal: Sell

Current Market Cap: £3.58B

See more data about UTG stock on TipRanks’ Stock Analysis page.