BidaskClub upgraded shares of Uniti Group (NASDAQ:UNIT) from a sell rating to a hold rating in a research note published on Saturday morning.
Several other equities analysts have also recently weighed in on UNIT. ValuEngine cut shares of Uniti Group from a strong-buy rating to a buy rating in a research note on Sunday, December 31st. Cowen set a $26.00 price objective on shares of Uniti Group and gave the stock a buy rating in a research note on Friday, March 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $25.57.
Uniti Group (NASDAQ UNIT) opened at $17.37 on Friday. Uniti Group has a one year low of $13.81 and a one year high of $27.78. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of -0.05. The firm has a market cap of $3,047.18, a P/E ratio of -115.79, a PEG ratio of 0.93 and a beta of 0.87.
Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.62. The business had revenue of $246.30 million during the quarter, compared to the consensus estimate of $246.90 million. The company’s revenue was up 19.0% on a year-over-year basis. research analysts expect that Uniti Group will post 2.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 13.82%. The ex-dividend date of this dividend is Wednesday, March 28th. Uniti Group’s dividend payout ratio is -1,599.89%.
Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning purchased a new stake in Uniti Group in the 4th quarter worth approximately $188,000. MML Investors Services LLC purchased a new stake in Uniti Group in the 4th quarter worth approximately $223,000. Alps Advisors Inc. purchased a new stake in Uniti Group in the 4th quarter worth approximately $229,000. Driehaus Capital Management LLC purchased a new stake in Uniti Group in the 4th quarter worth approximately $249,000. Finally, Elkfork Partners LLC purchased a new stake in Uniti Group in the 4th quarter worth approximately $265,000. 76.53% of the stock is owned by institutional investors.
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Uniti Group Company Profile
Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.
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