UNITE Group (OTCMKTS:UTGPF) Shares Gap Up – Here’s Why

UNITE Group PLC (OTCMKTS:UTGPF) shares gapped up prior to trading on Friday. The stock had previously closed at $5.93, but opened at $6.2775. UNITE Group shares last traded at $6.2775, with a volume of 2,687 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on UTGPF. Oddo Bhf lowered shares of UNITE Group to a “neutral” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of UNITE Group in a report on Thursday, July 9th. Citigroup cut UNITE Group from an “overweight” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Barclays downgraded UNITE Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, UNITE Group currently has a consensus rating of “Hold”.

UNITE Group Trading Up 12.1%

The company has a fifty day moving average price of $6.21 and a two-hundred day moving average price of $6.55.

About UNITE Group

UNITE Group plc is a United Kingdom-based owner, developer and manager of purpose-built student accommodation. Through its Unite Students platform, the company provides furnished housing, shared facilities and support services for university students.

The company’s activities include acquiring and developing student residences, operating accommodation under management agreements with universities, and leasing rooms directly to students. Its properties are located in major university cities and towns across the United Kingdom.

Founded in 1991, UNITE Group expanded its national student-housing portfolio through organic development and acquisitions, including the purchase of Liberty Living in 2019.