Berenberg analyst Tom Musson upgraded Unite Group (UTGPF) to Buy from Hold with a price target of 855 GBp, down from 1,052 GBp. The firm says its real estate coverage offers an average 5.3% dividend yield and a 9.6% total income return. This return is currently higher than the 8.5% expected total return on offer from UK equities, “marking an inversion of the typical risk/return hierarchy,” the analyst tells investors in a research note.
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