Uniti Group (NASDAQ:UNIT) Posts Earnings Results, Misses Expectations By $0.20 EPS

Uniti Group (NASDAQ:UNITGet Rating) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.20), MarketWatch Earnings reports. The firm had revenue of $278.00 million during the quarter, compared to the consensus estimate of $278.94 million. Uniti Group had a net margin of 11.21% and a negative return on equity of 5.79%. Uniti Group’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS.

UNIT stock opened at $11.40 on Friday. Uniti Group has a twelve month low of $10.25 and a twelve month high of $14.60. The company has a market cap of $2.70 billion, a P/E ratio of 22.80 and a beta of 0.99. The business’s fifty day moving average is $13.34 and its 200-day moving average is $13.09.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Thursday, June 16th. Uniti Group’s payout ratio is 120.00%.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Uniti Group by 3.1% during the 4th quarter. BlackRock Inc. now owns 35,709,974 shares of the real estate investment trust’s stock worth $500,295,000 after acquiring an additional 1,064,221 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Uniti Group by 71.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 727,471 shares of the real estate investment trust’s stock worth $10,192,000 after purchasing an additional 303,071 shares in the last quarter. Barclays PLC grew its holdings in shares of Uniti Group by 8.9% in the 4th quarter. Barclays PLC now owns 843,826 shares of the real estate investment trust’s stock valued at $11,821,000 after buying an additional 68,770 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Uniti Group by 9.9% in the 4th quarter. Wells Fargo & Company MN now owns 688,948 shares of the real estate investment trust’s stock valued at $9,652,000 after buying an additional 61,853 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in shares of Uniti Group by 6.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 567,101 shares of the real estate investment trust’s stock valued at $7,945,000 after buying an additional 34,425 shares in the last quarter. 84.64% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered shares of Uniti Group from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.

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Earnings History for Uniti Group (NASDAQ:UNIT)

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