Uniti Group (NASDAQ:UNIT) Issues FY22 Earnings Guidance

Uniti Group (NASDAQ:UNITGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided EPS guidance of $1.70-1.74 for the period, compared to the consensus EPS estimate of $1.59. The company issued revenue guidance of $1.112-1.40 billion, compared to the consensus revenue estimate of $1.13 billion. Uniti Group also updated its FY 2022 guidance to $1.65-$1.72 EPS.

Uniti Group Stock Performance

Shares of UNIT traded up $0.11 during mid-day trading on Friday, reaching $9.96. The company had a trading volume of 1,321,596 shares, compared to its average volume of 1,126,684. The firm has a 50-day moving average price of $10.04 and a 200 day moving average price of $11.60. Uniti Group has a 52 week low of $9.10 and a 52 week high of $14.60. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.54 and a beta of 1.02.

Uniti Group (NASDAQ:UNITGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.20). Uniti Group had a negative return on equity of 8.82% and a net margin of 16.52%. The company had revenue of $278.00 million during the quarter, compared to the consensus estimate of $278.94 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts forecast that Uniti Group will post 1.69 earnings per share for the current fiscal year.

Uniti Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a $0.15 dividend. The ex-dividend date is Thursday, September 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.02%. Uniti Group’s dividend payout ratio is currently 81.08%.

Hedge Funds Weigh In On Uniti Group

A number of hedge funds have recently added to or reduced their stakes in UNIT. Nomura Holdings Inc. purchased a new position in Uniti Group in the 1st quarter worth approximately $18,073,000. State Street Corp raised its holdings in Uniti Group by 13.9% in the 1st quarter. State Street Corp now owns 8,352,630 shares of the real estate investment trust’s stock worth $116,170,000 after acquiring an additional 1,016,467 shares during the last quarter. Vanguard Group Inc. raised its holdings in Uniti Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 38,313,052 shares of the real estate investment trust’s stock worth $527,187,000 after acquiring an additional 250,730 shares during the last quarter. First Trust Advisors LP raised its stake in Uniti Group by 103.0% during the 1st quarter. First Trust Advisors LP now owns 445,014 shares of the real estate investment trust’s stock valued at $6,123,000 after buying an additional 225,827 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Uniti Group by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,977,051 shares of the real estate investment trust’s stock valued at $54,725,000 after buying an additional 175,578 shares during the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

About Uniti Group

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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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