Last checked at 
(Sharecast News) - Analysts at Berenberg upgraded student accommodation provider Unite Group from 'hold' to 'buy' on Wednesday, stating increased visibility had provided the stock with re-rating potential.
Berenberg said as the UK real estate sector normalises, Unite, the largest owner and operator of purpose-built student accommodation in the UK, remained "well-placed", with the analysts expecting to see a normalisation of operations, combined with long-duration demand tailwinds, development completions and operating margin improvements to justify a re-rating of the shares, which currently trade at roughly 25% below pre-Covid-19-pandemic levels.
The German bank said Unite had outperformed expectations in 2020, despite significant rent concessions being made, and highlighted that following recent management commentary and comments from Boris Johnson, which suggested that any steps taken to ease lockdown measures were irreversible, operational visibility across the student accommodation subsector had improved "materially".
"When this is taken alongside demographic, societal and supply tailwinds, we expect occupational demand to increase materially ahead of the next academic year and remain resilient over our forecast horizon," said the analysts.
"Combined with Unite's best-in-class portfolio, we expect these tailwinds to result in resilient, secure, inflation-plus EPS growth and a re-rating of the shares, which remain circa 25% below February 2020 peaks."
Following Unite's 2020 results, and in addition to the rating upgrade, Berenberg rolled forward its model and increased its price target on the stock from 1,000.0p to 1,250p.
11 Apr 2024 15:09
UK dividends calendar - next 7 days
| Friday 12 April | |
| abrdn UK Smaller Cos Growth Trust PLC | dividend payment date |
| Alpha Real Trust Ltd | dividend payment date |
| Chemring Group PLC | dividend payment date |
| Duke Capital Ltd | dividend payment date |
| Galliford Try Holdings PLC | dividend payment date |
| Goodwin PLC | dividend payment date |
| Gore Street Energy Storage Fund PLC | dividend payment date |
| Idox PLC | dividend payment date |
| Lancashire Holdings Ltd | special dividend payment date |
| Land Securities Group PLC | dividend payment date |
| LPA Group PLC | dividend payment date |
| Tristel PLC | dividend payment date |
| Monday 15 April | |
| Craneware PLC | |
| Wheaton Precious Metals Corp | |
| Tuesday 16 April | |
| Brooks Macdonald Group PLC | dividend payment date |
| JPMorgan Global Growth & Income PLC | dividend payment date |
| Personal Assets Trust PLC | dividend payment date |
| Wednesday 17 April | |
| CRH PLC | dividend payment date |
| Diageo PLC | dividend payment date |
| Ithaca Energy PLC | dividend payment date |
| Thursday 18 April | |
| Airea PLC | ex-dividend payment date |
| Antofagasta PLC | ex-dividend payment date |
| Arbuthnot Banking Group PLC | ex-dividend payment date |
| BAE Systems PLC | ex-dividend payment date |
| Baillie Gifford Shin Nippon PLC | ex-dividend payment date |
| Bridgepoint Group PLC | ex-dividend payment date |
| Capital Ltd | ex-dividend payment date |
| Costain Group PLC | ex-dividend payment date |
| Croda International PLC | ex-dividend payment date |
| DFS Furniture PLC | ex-dividend payment date |
| Dowlais Group PLC | ex-dividend payment date |
| Drax Group PLC | ex-dividend payment date |
| Fresnillo PLC | ex-dividend payment date |
| hVIVO PLC | ex-dividend payment date |
| Invesco Bond Income Plus Ltd | ex-dividend payment date |
| JPMorgan American Investment Trust PLC | ex-dividend payment date |
| JPMorgan China Growth & Income PLC | ex-dividend payment date |
| JPMorgan UK Smaller Cos Investment Trust PLC | ex-dividend payment date |
| Jupiter Fund Management PLC | ex-dividend payment date |
| Kier Group PLC | ex-dividend payment date |
| London Stock Exchange Group PLC | ex-dividend payment date |
| M Winkworth PLC | ex-dividend payment date |
| Maven Income & Growth VCT 4 PLC | ex-dividend payment date |
| Merchants Trust PLC | ex-dividend payment date |
| Montanaro UK Smaller Cos Investments Trust PLC | ex-dividend payment date |
| Nippon Active Value Fund PLC | ex-dividend payment date |
| Old Mutual Ltd | ex-dividend payment date |
| Quilter PLC | ex-dividend payment date |
| Rathbones Group PLC | ex-dividend payment date |
| Redcentric PLC | dividend payment date |
| Rio Tinto PLC | dividend payment date |
| Rotork PLC | ex-dividend payment date |
| Serco Group PLC | ex-dividend payment date |
| STV Group PLC | ex-dividend payment date |
| Thungela Resources Ltd | ex-dividend payment date |
| Uniphar PLC | ex-dividend payment date |
| Unite Group PLC | ex-dividend payment date |
| Vanquis Banking Group PLC | ex-dividend payment date |
| Vesuvius PLC | ex-dividend payment date |
| Weir Group PLC | ex-dividend payment date |
| Comments and questions to newsroom@alliancenews.com | |
| A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional. | |
| Copyright 2024 Alliance News Ltd. All Rights Reserved. | |