Uniti Group (NASDAQ:UNIT) Updates FY 2021 Earnings Guidance

Uniti Group (NASDAQ:UNIT) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $1.580-$1.630 for the period. The company issued revenue guidance of $1.08 billion-$1.09 billion, compared to the consensus revenue estimate of $1.09 billion.

Uniti Group stock traded up $0.02 during mid-day trading on Thursday, reaching $13.80. 519,590 shares of the company’s stock traded hands, compared to its average volume of 1,695,058. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 92.01 and a beta of 0.94. The stock has a 50 day moving average of $13.19 and a two-hundred day moving average of $12.12. Uniti Group has a 12-month low of $10.06 and a 12-month high of $14.60.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, November 4th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.18). Uniti Group had a net margin of 3.74% and a negative return on equity of 1.91%. The business had revenue of $266.75 million for the quarter, compared to analysts’ expectations of $271.41 million. During the same period in the previous year, the company earned $0.42 EPS. Uniti Group’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Uniti Group will post 1.57 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 3rd. Shareholders of record on Friday, December 17th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Thursday, December 16th. Uniti Group’s dividend payout ratio (DPR) is 400.03%.

Separately, Zacks Investment Research upgraded shares of Uniti Group from a hold rating to a buy rating and set a $15.00 price objective on the stock in a research report on Thursday, November 11th.

A hedge fund recently bought a new stake in Uniti Group stock. Janus Henderson Group PLC bought a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 23,491 shares of the real estate investment trust’s stock, valued at approximately $290,000. Hedge funds and other institutional investors own 81.19% of the company’s stock.

Uniti Group Company Profile

Uniti Group, Inc is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis.

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