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IN BRIEF: Empiric Student Property's occupancy rate on the right track

24th May 2023 10:12

Empiric Student Property PLC - London-based student accommodation operator - Says revenue occupancy for the academic year 2023-2024 is now at 86%, and is "confident" in achieving occupancy rates above 97%, and is tracking "significantly ahead" of previous year's. Adds that like-for-like growth in average weekly rents for 2023-2024 will exceed 7%. It also declares a quarterly dividend of 0.8125 pence and expects to propose a full-year dividend of 3.25 pence per share for 2023.

Says sale of Emily Davis House in Southampton to Singapore's Far East Orchard Ltd for GBP13.9 million is now unconditional and will be completed at the end of May.

Chief Executive Officer Duncan Garrood says: "The business is in great shape, our net promoter scores continue to improve, and we've made good progress on our non-core disposal programme. We are optimistic that 2023 will be another strong year for the company."

Current stock price: 92.71 pence, down 0.7%

12-month change: up 2.8%

By Sabrina Penty, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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