Uniti Group (NASDAQ:UNIT) Updates FY22 Earnings Guidance

Uniti Group (NASDAQ:UNITGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share guidance of $1.70-1.74 for the period, compared to the consensus earnings per share estimate of $1.59. The company issued revenue guidance of $1.112-1.40 billion, compared to the consensus revenue estimate of $1.13 billion. Uniti Group also updated its FY 2022 guidance to $1.65-$1.72 EPS.

Uniti Group Stock Up 1.1 %

Shares of NASDAQ UNIT traded up $0.11 during midday trading on Friday, hitting $9.96. 1,321,596 shares of the company’s stock were exchanged, compared to its average volume of 1,126,684. Uniti Group has a 12 month low of $9.10 and a 12 month high of $14.60. The company’s 50 day moving average price is $10.04 and its 200 day moving average price is $11.60. The firm has a market capitalization of $2.36 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.54 and a beta of 1.02.

Uniti Group (NASDAQ:UNITGet Rating) last issued its earnings results on Thursday, May 5th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.20). The business had revenue of $278.00 million for the quarter, compared to the consensus estimate of $278.94 million. Uniti Group had a negative return on equity of 8.82% and a net margin of 16.52%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. On average, equities research analysts anticipate that Uniti Group will post 1.69 EPS for the current year.

Uniti Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be paid a $0.15 dividend. The ex-dividend date is Thursday, September 8th. This represents a $0.60 annualized dividend and a yield of 6.02%. Uniti Group’s dividend payout ratio (DPR) is presently 81.08%.

Institutional Trading of Uniti Group

Institutional investors have recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in Uniti Group in the 1st quarter valued at $18,073,000. State Street Corp raised its holdings in shares of Uniti Group by 13.9% during the 1st quarter. State Street Corp now owns 8,352,630 shares of the real estate investment trust’s stock worth $116,170,000 after buying an additional 1,016,467 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Uniti Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 38,313,052 shares of the real estate investment trust’s stock worth $527,187,000 after buying an additional 250,730 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Uniti Group by 103.0% during the 1st quarter. First Trust Advisors LP now owns 445,014 shares of the real estate investment trust’s stock worth $6,123,000 after buying an additional 225,827 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Uniti Group by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,977,051 shares of the real estate investment trust’s stock worth $54,725,000 after buying an additional 175,578 shares in the last quarter. 84.64% of the stock is currently owned by institutional investors.

About Uniti Group

(Get Rating)

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of September 30, 2020, Uniti owns 6.7 million fiber strand miles and other communications real estate throughout the United States.

See Also

Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.