GCP Student Living


Market Cap£970m

Last Close -213

GCP Student Living is a specialist UK real estate investment trust (REIT) investing in student residential assets, with a focus on London. The company seeks to provide shareholders with attractive total returns in the longer term, targeting 8–10% pa, through the payment of regular, sustainable, long-term dividends with the potential for modest capital appreciation.

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Investment summary

For the purposes of the Takeover Code, Edison Investment Research is deemed to be connected with GCP Student Living. Under Rule 20.1 Edison must not include any profit forecast, quantified financial benefits statement, asset valuation or estimate of other figures key to the offer, except to the extent that such forecasts, statements, valuations or estimates have been published prior to the offer period (as defined in the Takeover Code) by an offeror or the offeree company (as appropriate) in accordance with the requirements of the Code.

Consequently we have removed our estimates until the Offer Period ends.

Y/E Jun
Revenue (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2019A 44.4 26.2 92.8 4.67 45.0 N/A
2020A 47.8 24.5 48.6 3.42 61.4 N/A
2021E N/A N/A N/A N/A N/A N/A
2022E N/A N/A N/A N/A N/A N/A
Content on GCP Student Living
GCP Student Living – Suspension of estimates
Real Estate | research Update | 5 July 2021
GCP Student Living – Continuing growth punctuated by COVID-19
Real Estate | research Outlook | 5 October 2020
GCP Student Living – Strong NAV returns and quarterly DPS increase
Real Estate | research Update | 5 February 2020
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Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
Actual 1.2 0.5 49.0
Relative* 2.6 1.1 33.9
52-week high/low 216.0p/136.2p
*% relative to local index
Key management
Stephen Ellis Chairman
Rollo Wright CEO
Dion Miceli Head of Investment Funds
Saira Johnston Chief Financial Officer of Gravis Capital
William Macleod Investor Relations