Uniti Group Inc (NASDAQ:UNIT) announced a quarterly dividend on Tuesday, August 4th, Zacks reports. Shareholders of record on Friday, September 18th will be given a dividend of 0.15 per share by the real estate investment trust on Friday, October 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend is Thursday, September 17th.

Uniti Group has decreased its dividend by 84.6% over the last three years and has increased its dividend every year for the last 1 years. Uniti Group has a payout ratio of -23.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Uniti Group to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 39.7%.

Shares of Uniti Group stock opened at $9.58 on Wednesday. The firm has a market cap of $1.86 billion, a P/E ratio of -2.64 and a beta of 0.94. Uniti Group has a 12 month low of $4.86 and a 12 month high of $11.08. The stock’s fifty day moving average price is $9.80 and its 200-day moving average price is $8.33.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported ($3.06) EPS for the quarter, missing the consensus estimate of $0.48 by ($3.54). Uniti Group had a negative net margin of 65.51% and a negative return on equity of 0.60%. As a group, research analysts forecast that Uniti Group will post 1.64 earnings per share for the current year.

A number of equities research analysts recently weighed in on the company. ValuEngine raised Uniti Group from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. Barclays assumed coverage on Uniti Group in a research report on Wednesday, July 15th. They set an “equal weight” rating and a $10.00 price objective on the stock. Cowen reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Uniti Group in a research report on Sunday, June 14th. Wells Fargo & Company raised Uniti Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $5.50 to $10.00 in a research report on Wednesday, August 12th. Finally, Raymond James raised their price objective on Uniti Group from $13.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $10.14.

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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Dividend History for Uniti Group (NASDAQ:UNIT)

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