10:57 AM EDT, 10/31/2024 (MT Newswires) -- Uniti Group ( UNIT ) shares were down more than 6% in recent Thursday trading after the company reported Q3 adjusted funds from operations of $0.33 per diluted share, down from $0.35 a year earlier.

Analysts surveyed by Capital IQ expected $0.33.

Revenue for the quarter ended Sept. 30 was $292.2 million, up from $290.7 million a year earlier.

Analysts surveyed by Capital IQ expected $290.8 million.

The real estate investment trust said it now expects 2024 adjusted FFO of $351 million to $371 million, narrowed from a prior guidance of $353 million to $373 million.

Uniti said it expects full-year revenue to be in the range of $1.16 billion to $1.18 billion compared with a prior outlook of $1.15 billion to $1.17 billion. Analysts surveyed by Capital IQ are expecting $1.17 billion.

Price: 5.25, Change: -0.35, Percent Change: -6.17