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Unite Group
Unite Group (UTG) investor relations material
Unite Group Q4 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 TU earnings summary9 Jan, 2026
Executive summary
Reservations for the next academic year are at 64%, below last year's 67%, but on track for 93%-96% occupancy and 2%-3% rental growth as previously guided.
Share buyback program of up to £100 million is being launched, funded by deferred development activity.
Acquisition of Empiric Student Property conditionally cleared, with completion expected in late January 2026.
Universities are taking a cautious approach to nominations due to financial pressures, delaying renewals and take-up of beds.
Focus remains on operational excellence, cost efficiency, and capital allocation to drive medium-term earnings growth from 2027.
Financial highlights
USAF portfolio saw a 0.6%-0.7% decline in Q4 valuation, up 0.7%-0.8% year-over-year, with a four basis points yield increase.
LSAV portfolio declined 1.3%-1.4% in Q4, up 0.5%-0.6% year-over-year, with 16-18 basis points of yield compression.
USAF portfolio valued at £2,844m (5.3% yield), LSAV at £2,083m (4.7% yield) as of 31 December 2025.
Rental growth in multi-year university agreements is supporting 3%-4% increases.
FY2025 adjusted EPS guidance reiterated at 47.5-48.25p, including c.1p non-recurring fee income from Newcastle JV.
Outlook and guidance
Guidance for 2026 is reiterated, with detailed earnings guidance to be provided in February, including the impact of Empiric.
Targeting £300 million-£400 million of asset disposals in 2026, with net debt expected to remain broadly stable.
Medium-term outlook targets a return to earnings growth from 2027.
Anticipates continued demand for student accommodation, supported by a 4% increase in the UK 18-year-old population.
Supply in the broader market expected to remain stable in 2026, with reductions likely from 2027.
Future development pipeline strategy
Outlook for university nomination agreements
Property yield outlook for 2026
Impact of shorter tenancy lengths on revenue
Off-campus viability impact on future supply
How will disposals impact LTV and buyback capacity?
Partial view of Summaries dataset, powered by Quartr API
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Next Unite Group earnings date
H2 202525 Feb, 2026
Unite Group
Next Unite Group earnings date
H2 202525 Feb, 2026
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Frequently asked questions
Unite Group plc is a real estate investment trust (REIT) specializing in the development and management of purpose-built student accommodation in the United Kingdom. The company provides housing for university students through its portfolio of properties, offering a range of living options and amenities. Unite Group partners with universities to provide on-campus and off-campus accommodation, focusing on delivering high-quality, well-located housing solutions that support student communities. Its properties are designed to cater to the needs of students, with an emphasis on safety, convenience, and modern living environments. The company is headquartered in Bristol, United Kingdom, and its shares are listed on the LSE.
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