Ubiquiti Inc. (UI) To Go Ex-Dividend on February 16th

Ubiquiti Inc. (NYSE:UIGet Free Report) declared a quarterly dividend on Friday, February 9th, Zacks reports. Investors of record on Tuesday, February 20th will be given a dividend of 0.60 per share on Monday, February 26th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, February 16th.

Ubiquiti has raised its dividend by an average of 19.7% per year over the last three years. Ubiquiti has a payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ubiquiti to earn $7.95 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 30.2%.

Ubiquiti Stock Down 7.7 %

Ubiquiti stock opened at $117.30 on Friday. The stock has a 50-day simple moving average of $130.18 and a 200 day simple moving average of $137.43. Ubiquiti has a 12-month low of $103.00 and a 12-month high of $289.22. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 19.04 and a beta of 1.31.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on UI shares. BWS Financial dropped their price objective on Ubiquiti from $375.00 to $160.00 and set a “buy” rating for the company in a report on Monday, November 6th. StockNews.com cut Ubiquiti from a “hold” rating to a “sell” rating in a report on Monday, February 5th.

Check Out Our Latest Report on UI

Institutional Investors Weigh In On Ubiquiti

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Ubiquiti by 7.3% during the 2nd quarter. BlackRock Inc. now owns 287,510 shares of the company’s stock worth $50,530,000 after purchasing an additional 19,474 shares in the last quarter. SW Investment Management LLC raised its stake in shares of Ubiquiti by 18.2% during the 1st quarter. SW Investment Management LLC now owns 130,000 shares of the company’s stock worth $37,850,000 after purchasing an additional 20,000 shares in the last quarter. State Street Corp raised its stake in shares of Ubiquiti by 2.5% during the 1st quarter. State Street Corp now owns 105,612 shares of the company’s stock worth $30,750,000 after purchasing an additional 2,610 shares in the last quarter. Vanguard Group Inc. raised its stake in Ubiquiti by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 105,479 shares of the company’s stock valued at $30,710,000 after acquiring an additional 739 shares during the period. Finally, Morgan Stanley raised its stake in Ubiquiti by 18.3% in the 4th quarter. Morgan Stanley now owns 70,254 shares of the company’s stock valued at $19,217,000 after acquiring an additional 10,849 shares during the period. Institutional investors own 3.54% of the company’s stock.

About Ubiquiti

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Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.

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Dividend History for Ubiquiti (NYSE:UI)

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