Empiric Student Property (ESP)


FTSE 250

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

Empiric Student Property remains confident in FY outlook

By Iain Gilbert

Date: Wednesday 22 May 2024

LONDON (ShareCast) - (Sharecast News) - Student accommodation provider Empiric Student Property reiterated its confidence in its full-year outlook on Wednesday, stating the business was now "poised for growth".
Empiric Student Property said revenue occupancy for the academic year 2024/25 underpinned its confidence that its portfolio will again be "effectively full" for a third consecutive year, with like-for-like growth in average weekly rents to exceed 6%.

The FTSE 250-listed group also noted that potential joint venture discussions were continuing to "progress positively" and said its second tranche of refinancing has concluded, with its weighted average cost of debt now standing at 4.6% and its weighted average term to maturity sitting at 5.3 years, meaning its next material refinancing was not due until 2028.

Empiric Student Property, which previously set out its expectation of meeting a minimum full-year dividend of 3.5p per share for 2024, also declared its first quarter dividend of 0.875p per share.

Chief executive Duncan Garrood said: "The booking cycle for the new 2024/25 academic year continues to demonstrate the resilience of demand for our high-quality PBSA offer, providing confidence in the continued delivery of strong occupancy and rental growth into 2025 and beyond.

"The business is poised for growth. We're progressing schemes through the planning process and continue to make good progress with potential JV discussions."

As of 1015 BST, Empiric Student Property shares were down 0.52% at 91.53p.

Reporting by Iain Gilbert at Sharecast.com

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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 96.60p
52 Week Low 83.70p
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
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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