Equities research analysts expect Uniti Group Inc (NASDAQ:UNIT) to report $0.49 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Uniti Group’s earnings. Uniti Group reported earnings per share of $0.64 during the same quarter last year, which would indicate a negative year over year growth rate of 23.4%. The company is expected to issue its next earnings report on Wednesday, March 18th.
On average, analysts expect that Uniti Group will report full year earnings of $2.09 per share for the current year. For the next financial year, analysts expect that the business will post earnings of $2.11 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Uniti Group.
Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Thursday, November 7th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.54). The business had revenue of $263.63 million for the quarter, compared to analysts’ expectations of $270.14 million. Uniti Group had a negative return on equity of 2.17% and a net margin of 3.06%.
A number of equities analysts have commented on the company. Zacks Investment Research raised Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. ValuEngine raised Uniti Group from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, BidaskClub raised Uniti Group from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Uniti Group has a consensus rating of “Hold” and an average price target of $11.96.
Several institutional investors have recently made changes to their positions in UNIT. BlackRock Inc. raised its holdings in shares of Uniti Group by 32.9% during the second quarter. BlackRock Inc. now owns 21,726,815 shares of the real estate investment trust’s stock valued at $206,406,000 after acquiring an additional 5,384,528 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Uniti Group in the second quarter valued at approximately $12,392,000. Nuveen Asset Management LLC acquired a new stake in shares of Uniti Group in the second quarter valued at approximately $11,006,000. Pacer Advisors Inc. increased its holdings in shares of Uniti Group by 224.6% in the third quarter. Pacer Advisors Inc. now owns 729,157 shares of the real estate investment trust’s stock valued at $5,662,000 after purchasing an additional 504,498 shares during the last quarter. Finally, Mackay Shields LLC acquired a new stake in shares of Uniti Group in the third quarter valued at approximately $3,185,000. 81.63% of the stock is owned by institutional investors and hedge funds.
Shares of UNIT stock opened at $7.47 on Friday. The company has a market capitalization of $1.44 billion, a P/E ratio of 46.66, a P/E/G ratio of 1.21 and a beta of 1.10. The business’s 50 day moving average is $7.78 and its two-hundred day moving average is $7.78. Uniti Group has a 12-month low of $5.24 and a 12-month high of $20.14.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 11.79%. This is a boost from Uniti Group’s previous quarterly dividend of $0.05. Uniti Group’s dividend payout ratio is presently 35.06%.
Uniti Group Company Profile
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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
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