Edison issues research

GCP Student Living Plc - Edison issues research

PR Newswire

London, March 26

GCP Student LivingEdison issues research on GCP Student Living plc (“GCP Student”)

Strong growth continued at GCP Student in H119. Rental income benefited from development/refurbishment completions, above inflation rental growth and continued full occupancy. Profitability showed the benefit of scale economies, with the operating margin increasing. Dividend cover increased strongly to 81%, well on track for full cover on a fully developed and let basis. The existing portfolio is performing well (H119 NAV total return of 7.9%), developments are on track to deliver further income growth, and the company continues to identify attractive opportunities for further growth.

GCP Student aims for regular sustainable dividends with RPI-inflation linked characteristics and modest capital appreciation. Shareholder returns since the IPO are well ahead of the 8–10% long-term target.

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