138 Student Living reports net loss

• For the nine-month period ending June 30, 2019, 138 Student Living recorded a decline in net profit from  $3.29Mn (EPS: $0.01) to a loss of $60.43Mn (EPS: -$0.15). 
• The main contributor to this deterioration in the bottom line over the period was administrative expenses which grew by 67.8% (or $226.74Mn). The two main non-recurring expenses which caused the operating expenses to balloon were utility costs which grew by 80% together with $54.2Mn in interest and professional fees associated with an arbitration award related to the first phase of development in 2016.
• The stock has risen 20.0% since the start of the calendar year and closed yesterday’s trading session at $4.20. The stock currently trades at a P/B of 0.53x which is below the Main Market Real Estate sector average of 2.14x.

 (Source: 138 Student Living Financials)