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Unite's earnings recovery set to be swift

The student landlord has suffered a fall in rental income post-pandemic, but an anticipated rise in university applications and the enhanced scale of its portfolio could result in a sharp recovery
Unite's earnings recovery set to be swift
  • Forecast lower earnings in 2020 and 2021
  • Earnings are expected to surpass 2019 levels in 2022
  • A rise in university applications is anticipated 
IC TIP: Buy at 952p
Tip style
Growth
Risk rating
High
Timescale
Long Term
Bull points
  • 2021 earnings recovery forecast
  • University applications increasing and pent-up demand
  • Substantial headroom beneath covenants
  • Larger-scale portfolio than peers
Bear points
  • Occupancy rate lower
  • Potential for further rent discounts

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