Goldman starts Unite Group at ‘buy’, cites strong fundamentals.
Goldman Sachs initiated coverage on student accommodation landlord Unite Group on Wednesday with a ‘buy’ rating, citing strong fundamentals and an attractive valuation entry point.
Unite Group
15 January 2025 09:51:49
Source: Sharecast
"The key points of our thesis include: 1) well-positioned and high-quality portfolio; 2) favourable supply/demand dynamics within student housing market; and 3) value-accretive investment opportunities and supportive balance sheet," the bank said.
"Following significant underperformance over 12 months driven by rates and positioning, in our view, the shares now trade at an attractive 26% discount to FY25E NTA/share."
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