Uniti Group (UNIT) Shares Gap Down to $10.82

Uniti Group Inc (NASDAQ:UNIT) gapped down before the market opened on Wednesday . The stock had previously closed at $11.92, but opened at $10.82. Uniti Group shares last traded at $10.21, with a volume of 8195567 shares changing hands.

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Uniti Group from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $23.00 to $16.00 in a report on Tuesday, February 19th. Cowen cut Uniti Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 19th. Raymond James cut Uniti Group from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, February 19th. BidaskClub upgraded Uniti Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 29th. Finally, Royal Bank of Canada cut Uniti Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $22.00 to $15.00 in a research report on Wednesday, February 20th. Six research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Uniti Group presently has an average rating of “Hold” and a consensus price target of $15.00.

The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 4.14, a PEG ratio of 1.53 and a beta of 1.04.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Thursday, May 9th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.54). Uniti Group had a net margin of 1.16% and a negative return on equity of 0.82%. The company had revenue of $261.03 million for the quarter, compared to the consensus estimate of $270.25 million. On average, equities research analysts expect that Uniti Group Inc will post 2.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, June 27th. Uniti Group’s dividend payout ratio is presently 7.97%.

Several institutional investors and hedge funds have recently made changes to their positions in UNIT. First Allied Advisory Services Inc. increased its position in shares of Uniti Group by 5.7% in the fourth quarter. First Allied Advisory Services Inc. now owns 13,598 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 728 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Uniti Group by 6.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 11,569 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 732 shares during the last quarter. Private Capital Group LLC increased its position in shares of Uniti Group by 52.7% in the fourth quarter. Private Capital Group LLC now owns 2,150 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 742 shares during the last quarter. Securian Asset Management Inc increased its position in shares of Uniti Group by 0.9% in the fourth quarter. Securian Asset Management Inc now owns 87,860 shares of the real estate investment trust’s stock worth $1,368,000 after purchasing an additional 747 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Uniti Group by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 32,789 shares of the real estate investment trust’s stock worth $510,000 after purchasing an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

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Uniti Group Company Profile (NASDAQ:UNIT)

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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.

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