GCP Student Living

LN: DIGS

£628.2m market cap

153p last close

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.

Investment summary

GCP Student Living (DIGS) saw strong growth in FY18 rental income, driven by an increasing number of operational beds, continuing full occupancy and good levels of rental growth. Growing dividends should be fully covered once current development projects are completed and let. Capital values also grew, with investor interest in the asset class remaining strong, contributing to 11.5% NAV total return for the FY18 year. The company continues to find attractive investment opportunities, maintaining its selective approach to investment, both by location and asset quality, and is seeking to raise up to £55m in a share pacing.

Share price graph
Price performance
%
1m
3m
12m
Actual (2.1) 4.1 11.5
Relative* (2.2) (3.2) 8.8
52-week high/low 156.2p/138.0p
*% 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