Uniti Group Inc (NASDAQ:UNIT) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 13,572,575 shares, a decline of 9.4% from the August 15th total of 14,977,295 shares. Approximately 8.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,511,305 shares, the days-to-cover ratio is presently 9.0 days.
Shares of NASDAQ:UNIT traded down $0.16 on Monday, hitting $18.95. 1,462,100 shares of the company’s stock were exchanged, compared to its average volume of 2,108,745. The stock has a market cap of $3.54 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.93 and a beta of 0.77. Uniti Group has a 1-year low of $13.94 and a 1-year high of $23.42. The company has a debt-to-equity ratio of -0.04, a quick ratio of 0.04 and a current ratio of 0.04.
Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.65). The business had revenue of $247.30 million for the quarter, compared to analyst estimates of $250.07 million. Uniti Group had a negative return on equity of 1.45% and a net margin of 1.83%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. On average, equities research analysts predict that Uniti Group will post 2.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.66%. Uniti Group’s dividend payout ratio (DPR) is presently 95.62%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its position in shares of Uniti Group by 39,066.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,700,000 shares of the real estate investment trust’s stock valued at $94,141,000 after purchasing an additional 4,688,000 shares during the period. Barclays PLC raised its stake in Uniti Group by 128.5% during the 1st quarter. Barclays PLC now owns 2,789,454 shares of the real estate investment trust’s stock valued at $45,329,000 after acquiring an additional 1,568,732 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Uniti Group by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,426,657 shares of the real estate investment trust’s stock valued at $48,605,000 after acquiring an additional 276,052 shares during the last quarter. Sylebra HK Co Ltd raised its stake in Uniti Group by 4.9% during the 2nd quarter. Sylebra HK Co Ltd now owns 2,345,214 shares of the real estate investment trust’s stock valued at $46,975,000 after acquiring an additional 109,478 shares during the last quarter. Finally, Toscafund Asset Management LLP purchased a new stake in Uniti Group during the 2nd quarter valued at approximately $45,068,000. 71.33% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on UNIT shares. Morgan Stanley downgraded Uniti Group from an “overweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock. in a report on Thursday, June 14th. BidaskClub cut Uniti Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 16th. ValuEngine cut Uniti Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 27th. Zacks Investment Research cut Uniti Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Finally, Citigroup cut Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price objective for the company. in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Uniti Group presently has an average rating of “Hold” and a consensus target price of $25.80.
Uniti Group Company Profile
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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