Ergoteles LLC bought a new position in shares of Uniti Group Inc. (NASDAQ:UNIT – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,864 shares of the real estate investment trust’s stock, valued at approximately $312,000.
Other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Uniti Group by 114.9% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 66,678 shares of the real estate investment trust’s stock worth $628,000 after buying an additional 35,647 shares during the period. Mutual of America Capital Management LLC lifted its position in Uniti Group by 18.5% in the third quarter. Mutual of America Capital Management LLC now owns 47,200 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 7,377 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Uniti Group in the second quarter valued at about $296,000. MQS Management LLC acquired a new stake in Uniti Group in the second quarter valued at about $136,000. Finally, Tower Research Capital LLC TRC lifted its position in Uniti Group by 337.9% in the third quarter. Tower Research Capital LLC TRC now owns 34,599 shares of the real estate investment trust’s stock valued at $241,000 after purchasing an additional 26,698 shares during the period. Institutional investors and hedge funds own 83.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Citigroup reduced their price objective on shares of Uniti Group from $9.00 to $7.25 and set a “neutral” rating for the company in a research report on Wednesday, February 1st. Royal Bank of Canada reduced their price target on shares of Uniti Group from $10.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 22nd. Cowen reduced their price target on shares of Uniti Group from $15.00 to $9.00 and set an “outperform” rating for the company in a research report on Monday, February 27th. Morgan Stanley dropped their price objective on shares of Uniti Group from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, February 7th. Finally, Barclays lowered their target price on shares of Uniti Group from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.46.
Uniti Group Stock Down 0.6 %
Uniti Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 11.83%. Uniti Group’s dividend payout ratio is presently -545.40%.
About Uniti Group
Uniti Group, Inc is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis.
Further Reading
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