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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 £13.9 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%
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