Shares of Uniti Group Inc (NASDAQ:UNIT) have been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $25.80.
UNIT has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub raised shares of Uniti Group from a “buy” rating to a “strong-buy” rating in a report on Friday, October 19th. ValuEngine raised shares of Uniti Group from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $22.00 target price on shares of Uniti Group in a report on Friday, August 17th. Finally, Cowen set a $28.00 target price on shares of Uniti Group and gave the company a “buy” rating in a report on Saturday, August 11th.
Several institutional investors and hedge funds have recently modified their holdings of UNIT. Truvestments Capital LLC purchased a new position in shares of Uniti Group during the 3rd quarter worth approximately $101,000. Quad Cities Investment Group LLC purchased a new position in shares of Uniti Group during the 2nd quarter worth approximately $111,000. Winslow Evans & Crocker Inc. increased its stake in shares of Uniti Group by 16,322.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 5,912 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 5,876 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Uniti Group during the 2nd quarter worth approximately $132,000. Finally, Sei Investments Co. increased its stake in shares of Uniti Group by 48.5% during the 1st quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 3,067 shares in the last quarter. 71.05% of the stock is owned by institutional investors and hedge funds.
NASDAQ UNIT traded down $0.10 during trading hours on Friday, hitting $19.76. 255,323 shares of the stock were exchanged, compared to its average volume of 1,566,967. The stock has a market capitalization of $3.57 billion, a P/E ratio of 7.87, a P/E/G ratio of 0.93 and a beta of 0.76. Uniti Group has a 12-month low of $13.94 and a 12-month high of $23.42.
Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $252.60 million for the quarter, compared to analysts’ expectations of $253.97 million. Uniti Group had a negative return on equity of 1.33% and a net margin of 1.76%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. On average, equities research analysts predict that Uniti Group will post 2.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.15%. Uniti Group’s dividend payout ratio (DPR) is 95.62%.
About Uniti Group
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 June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.
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