Uniti Group (NASDAQ:UNIT) Releases FY22 Earnings Guidance

Uniti Group (NASDAQ:UNITGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.70-1.74 for the period, compared to the consensus earnings per share 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 NASDAQ UNIT traded up $0.11 during trading on Friday, hitting $9.96. The company had a trading volume of 1,321,596 shares, compared to its average volume of 1,126,684. The company has a market cap of $2.36 billion, a P/E ratio of 13.46, a PEG ratio of 0.54 and a beta of 1.02. Uniti Group has a 52 week low of $9.10 and a 52 week high of $14.60. The business’s 50-day moving average is $10.04 and its 200 day moving average is $11.60.

Uniti Group (NASDAQ:UNITGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.21 earnings per share (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 business had revenue of $278.00 million during the quarter, compared to the consensus estimate of $278.94 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts expect that Uniti Group will post 1.69 EPS for the current year.

Uniti Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Thursday, September 8th. Uniti Group’s dividend payout ratio (DPR) is presently 81.08%.

Hedge Funds Weigh In On Uniti Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Uniti Group by 0.7% during the first 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 period. State Street Corp boosted 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 valued at $116,170,000 after purchasing an additional 1,016,467 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Uniti Group by 4.6% in 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 in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Uniti Group in the 1st quarter valued at approximately $18,073,000. Finally, Wellington Management Group LLP raised its position in shares of Uniti Group by 0.4% in the 1st quarter. Wellington Management Group LLP now owns 895,264 shares of the real estate investment trust’s stock valued at $12,319,000 after buying an additional 3,484 shares in the last quarter. 84.64% of the stock is owned by institutional investors.

Uniti Group Company Profile

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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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