Uniti Group said on May 2, 2023 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Previously, the company paid $0.15 per share.
Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on June 30, 2023.
At the current share price of $3.19 / share, the stock's dividend yield is 18.81%.
Looking back five years and taking a sample every week, the average dividend yield has been 7.51%, the lowest has been 1.74%, and the highest has been 28.14%. The standard deviation of yields is 5.03 (n=237).
The current dividend yield is 2.24 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -17.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.62%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 582 funds or institutions reporting positions in Uniti Group. This is a decrease of 3 owner(s) or 0.51% in the last quarter. Average portfolio weight of all funds dedicated to UNIT is 0.16%, an increase of 19.27%. Total shares owned by institutions increased in the last three months by 3.65% to 236,809K shares. 
The put/call ratio of UNIT is 1.63, indicating a bearish outlook.
Analyst Price Forecast Suggests 118.49% Upside
As of April 24, 2023, the average one-year price target for Uniti Group is 6.97. The forecasts range from a low of 5.05 to a high of $9.45. The average price target represents an increase of 118.49% from its latest reported closing price of 3.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Uniti Group is 1,184MM, an increase of 4.89%. The projected annual non-GAAP EPS is 0.82.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 17,578K shares representing 7.37% ownership of the company. In it's prior filing, the firm reported owning 17,395K shares, representing an increase of 1.04%. The firm decreased its portfolio allocation in UNIT by 26.85% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 10,584K shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 10,753K shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in UNIT by 23.44% over the last quarter.
Elliott Investment Management holds 10,121K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 14,174K shares, representing a decrease of 40.05%. The firm decreased its portfolio allocation in UNIT by 55.22% over the last quarter.
Allianz Asset Management holds 8,096K shares representing 3.39% ownership of the company. In it's prior filing, the firm reported owning 8,231K shares, representing a decrease of 1.67%. The firm decreased its portfolio allocation in UNIT by 25.26% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,165K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 7,094K shares, representing an increase of 0.99%. The firm decreased its portfolio allocation in UNIT by 25.79% over the last quarter.
Uniti Group Background Information
(This description is provided by the company.)
Uniti Group Inc., 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, 2020, Uniti owns over 123,000 fiber route miles, approximately 6.9 million fiber strand miles, and other communications real estate throughout the United States.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
