Empiric Student Property (ESP)

Index:

FTSE 250

94.70p
   
  • Change Today:
    -0.30p
  • 52 Week High: 96.60
  • 52 Week Low: 83.70
  • Currency: UK Pounds
  • Shares Issued: 603.46m
  • Volume: 896,182
  • Market Cap: £571.48m
  • RiskGrade: 140

Student accommodation group Empiric lifts forecasts

By Digital Look

Date: Thursday 17 Aug 2023

LONDON (ShareCast) - (Sharecast News) - Empiric Student Property boasted a "very strong start" to 2023 as it raised its full-year guidance and pumped up its interim dividend.
The company, which owns and operates studio-led student accommodation across the UK, reported a 16% year-on-year jump in first-half revenues to £41.3m, while earnings per share rose 18.5% to 2.3p

"Following our best ever re-booker campaign, the booking cycle for academic year 2023/24 has tracked significantly ahead of the prior year," said chief executive Duncan Garrood. "Our accommodation is now effectively full for the forthcoming academic year with occupancy at 98 per cent, a level achieved earlier than ever before."

The company said its strategy to actively shift its portfolio away from non-core locations to prime, undersupplied cities with top-tier universities has paid off.

Looking ahead, Garrood said he expects "another record year" for Empiric, and said that like-for-like rental growth would now be around 9%, up from previous guidance of 7% - which had already been upgraded in May from earlier forecasts.

The company declared a dividend for the first half of 1.625p per share, up 30% year-on-year.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ESP Market Data

Currency UK Pounds
Share Price 94.70p
Change Today -0.30p
% Change -0.32 %
52 Week High 96.60
52 Week Low 83.70
Volume 896,182
Shares Issued 603.46m
Market Cap £571.48m
RiskGrade 140

ESP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend Not Available
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ESP Dividends

  Latest Previous
  1st Interim 4th Interim
Ex-Div 13-Jun-24 04-Apr-24
Paid 28-Jun-24 19-Apr-24
Amount 0.88p 0.94p

Trades for 15-Jul-2024

Time Volume / Share Price
16:35 4,204 @ 94.70p
16:35 75,000 @ 94.70p
16:35 470,863 @ 94.70p
16:35 1,693 @ 94.70p
16:35 1,698 @ 94.70p

ESP Key Personnel

CEO Duncan Garrood

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