Uniti Group (NASDAQ:UNIT) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02), Fidelity Earnings reports. The company had revenue of $252.60 million during the quarter, compared to analyst estimates of $253.97 million. Uniti Group had a net margin of 1.83% and a negative return on equity of 1.45%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. Uniti Group updated its FY18 guidance to $2.09-2.12 EPS.
UNIT traded up $0.27 during trading hours on Friday, reaching $20.05. The company’s stock had a trading volume of 67,960 shares, compared to its average volume of 1,522,439. Uniti Group has a 52 week low of $13.94 and a 52 week high of $23.42. The stock has a market cap of $3.34 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 0.88 and a beta of 0.77.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 11.97%. The ex-dividend date of this dividend is Friday, December 28th. Uniti Group’s dividend payout ratio (DPR) is presently 95.62%.
A number of research firms recently weighed in on UNIT. BidaskClub upgraded Uniti Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 19th. ValuEngine upgraded Uniti Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. Royal Bank of Canada restated a “buy” rating and issued a $22.00 price target on shares of Uniti Group in a research note on Friday, August 17th. Cowen set a $28.00 price target on Uniti Group and gave the company a “buy” rating in a research note on Saturday, August 11th. Finally, Citigroup cut Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price target on the stock. in a research note on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Uniti Group presently has an average rating of “Hold” and an average price target of $25.80.
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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