Empiric Student Property (ESP)

  • Change Today:
  • 52 Week High: 101.60
  • 52 Week Low: 80.80
  • Currency: UK Pounds
  • Shares Issued: 603.20m
  • Volume: 467,558
  • Market Cap: £525.99m
  • RiskGrade: 140

Berenberg downgrades Empiric Student Property to 'hold'

By Iain Gilbert

Date: Wednesday 18 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg downgraded real estate firm Empiric Student Property from 'buy' to 'hold' on Wednesday, stating that normalisation had been delayed.
Berenberg said Empiric's first-half results highlighted not only the progress the company had made in refining its portfolio but also operational risks that were "increasingly likely" to affect its full-year performance in 2022.

"The current booking rate stands at just 70%, less than six weeks ahead of the new academic year," said Berenberg. "As such, while we expected the booking cycle to be back-end-loaded, there is now the very real risk that higher vacancy rates will persist, delaying the company's operational recovery from Covid-19."

The German bank, which kept its 100.0p target price on the stock unchanged, also added that Empiric's rebased dividend, coupled with a valuation in "the upper quartile of its long-term range", may present a headwind for the company in light of its income-biased shareholder register.

"With the shares up by circa 30% since we upgraded to 'buy' in March 2021, near-term earnings lowered, the dividend rebased and shares now at our price target we lower our recommendation to 'hold'," concluded Berenberg.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.


ESP Market Data

Currency UK Pounds
Share Price 87.20p
Change Today 0.50p
% Change 0.58 %
52 Week High 101.60
52 Week Low 80.80
Volume 467,558
Shares Issued 603.20m
Market Cap £525.99m
RiskGrade 140

ESP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
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Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 6
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ESP Dividends

  Latest Previous
  2nd Interim Interim
Ex-Div 03-Mar-22 11-Nov-21
Paid 25-Mar-22 03-Dec-21
Amount 0.62p 2.50p

Trades for 20-May-2022

Time Volume / Share Price
17:13 4,943 @ 87.20p
16:35 231,485 @ 87.20p
16:29 1,023 @ 87.40p
16:29 585 @ 87.00p
16:29 287 @ 87.20p

ESP Key Personnel

CEO Duncan Garrood

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