Uniti Group (NASDAQ:UNIT) Releases FY 2022 Earnings Guidance

Uniti Group (NASDAQ:UNITGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.65-$1.72 for the period. The company issued revenue guidance of $1.12 billion-$1.14 billion, compared to the consensus revenue estimate of $1.13 billion.

Shares of NASDAQ UNIT traded down $0.74 during trading on Monday, reaching $10.66. The company had a trading volume of 107,946 shares, compared to its average volume of 1,658,293. Uniti Group has a 52 week low of $10.25 and a 52 week high of $14.60. The stock has a market cap of $2.53 billion, a PE ratio of 15.62 and a beta of 0.99. The business’s 50 day moving average price is $13.34 and its 200-day moving average price is $13.09.

Uniti Group (NASDAQ:UNITGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.20). Uniti Group had a negative return on equity of 8.54% and a net margin of 16.32%. The business had revenue of $278.00 million for the quarter, compared to the consensus estimate of $278.94 million. During the same period last year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Uniti Group will post 1.69 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend is Thursday, June 16th. Uniti Group’s dividend payout ratio (DPR) is presently 82.19%.

Separately, Zacks Investment Research cut shares of Uniti Group from a buy rating to a hold rating in a report on Tuesday, May 3rd.

Several institutional investors have recently added to or reduced their stakes in UNIT. Guggenheim Capital LLC lifted its stake in Uniti Group by 21.0% in the fourth quarter. Guggenheim Capital LLC now owns 14,910 shares of the real estate investment trust’s stock valued at $209,000 after acquiring an additional 2,583 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Uniti Group in the third quarter valued at about $290,000. Virtu Financial LLC bought a new position in shares of Uniti Group in the fourth quarter valued at about $334,000. Vident Investment Advisory LLC increased its position in Uniti Group by 38.7% during the fourth quarter. Vident Investment Advisory LLC now owns 27,057 shares of the real estate investment trust’s stock worth $379,000 after acquiring an additional 7,553 shares during the period. Finally, LPL Financial LLC increased its position in Uniti Group by 3.4% during the third quarter. LPL Financial LLC now owns 77,189 shares of the real estate investment trust’s stock worth $955,000 after acquiring an additional 2,516 shares during the period. Institutional investors own 84.64% of the company’s stock.

Uniti Group Company Profile (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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