Uniti Group Inc (NASDAQ:UNIT) announced a quarterly dividend on Thursday, March 21st, Wall Street Journal reports. Shareholders of record on Monday, April 1st will be paid a dividend of 0.05 per share by the real estate investment trust on Monday, April 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, March 29th.
Uniti Group has a dividend payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Uniti Group to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 9.2%.
NASDAQ UNIT traded up $0.22 on Monday, reaching $12.30. The company’s stock had a trading volume of 1,940,651 shares, compared to its average volume of 4,974,709. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 4.90, a PEG ratio of 1.80 and a beta of 1.07. Uniti Group has a twelve month low of $8.06 and a twelve month high of $23.42.
Several research firms have issued reports on UNIT. ValuEngine downgraded Uniti Group from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. Zacks Investment Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a report on Saturday, January 5th. BidaskClub upgraded Uniti Group from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Deutsche Bank cut their price objective on Uniti Group from $20.00 to $8.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Finally, Citigroup cut their price objective on Uniti Group from $11.00 to $8.00 and set a “sell” rating on the stock in a report on Tuesday, March 19th. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.00.
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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 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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