LONDON STOCK EXCHANGE GROUP WELCOMES GCP STUDENT LIVING PLC
The UK’s first student accommodation REIT, GCP Student Living plc (“GCP Student”), celebrates its 5-year anniversary today.
GCP Student seeks to provide shareholders with attractive total returns in the longer term through the potential for modest capital appreciation and regular, sustainable, long-term dividends with RPI inflation-linked income characteristics. It invests in student accommodation properties located primarily in and around London where Gravis, the Investment Manager, believes the Company is likely to benefit from supply and demand imbalances for student residential accommodation and a growing number of international students.
The Company has a premium listing on the Official List of the UKLA and trades on the Premium Segment of the Main Market of the LSE under the Bloomberg ticker DIGS LN.
GCP Student had total assets in excess of £820m as at 31 March 2018. Since IPO in May 2013 the REIT has increased its dividend paid to shareholders every year and provided annualised shareholder returns of 12%.
The co-lead portfolio manager, Nick Barker, commented:
“The past five years have seen the Company grow from a £70m IPO in 2013 to a FTSE All-Share constituent with a market capitalisation of c.£530 million providing investors with access to a diversified portfolio comprising 3,600 beds located primarily in and around London. Over this period we have delivered consistent shareholder returns and stable growth whilst maintaining our core focus on delivering a portfolio which will benefit from strong rental growth prospects over the long term.
Since IPO the Company has provided high quality, modern living facilities to thousands of domestic and international students from over 100 countries in accommodation which benefits from intelligent design to optimise shareholder returns over the long term. We will maintain our focus on high quality student accommodation in order to maintain our position as one of the leading operators of student accommodation in London, seeking to provide value to both our students and shareholders well into the future.”