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

Uniti Group (NASDAQ:UNIT) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (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.

UNIT traded up $0.02 during trading hours on Thursday, hitting $13.80. The company’s stock had a trading volume of 519,590 shares, compared to its average volume of 1,695,058. The business’s 50-day moving average price is $13.19 and its 200-day moving average price is $12.12. Uniti Group has a 12 month low of $10.06 and a 12 month high of $14.60. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 92.01 and a beta of 0.94.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Friday, December 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.35%. The ex-dividend date is Thursday, December 16th. Uniti Group’s dividend payout ratio is presently 400.03%.

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

A hedge fund recently raised its stake in Uniti Group stock. LPL Financial LLC increased its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,189 shares of the real estate investment trust’s stock after acquiring an additional 2,516 shares during the quarter. LPL Financial LLC’s holdings in Uniti Group were worth $955,000 as of its most recent SEC filing. Institutional investors own 81.19% of the company’s stock.

About Uniti Group

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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