10,282 Shares in Uniti Group Inc. (NASDAQ:UNIT) Acquired by Duality Advisers LP

Posted by Defense World Staff on May 9th, 2023

Duality Advisers LP bought a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,282 shares of the real estate investment trust’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can grew its stake in shares of Uniti Group by 2.4% during the first quarter. Bank of Montreal Can now owns 70,320 shares of the real estate investment trust’s stock valued at $985,000 after buying an additional 1,629 shares during the last quarter. Mackenzie Financial Corp increased its stake in Uniti Group by 14.9% in the 1st quarter. Mackenzie Financial Corp now owns 12,966 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 1,681 shares during the period. Commonwealth Equity Services LLC lifted its position in Uniti Group by 10.7% in the third quarter. Commonwealth Equity Services LLC now owns 18,148 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 1,758 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Uniti Group by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 284,547 shares of the real estate investment trust’s stock valued at $1,572,000 after purchasing an additional 2,183 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Uniti Group by 1.2% in the first quarter. Great West Life Assurance Co. Can now owns 206,675 shares of the real estate investment trust’s stock worth $2,917,000 after purchasing an additional 2,481 shares during the last quarter. Hedge funds and other institutional investors own 83.82% of the company’s stock.

Insider Activity at Uniti Group

In related news, CEO Kenny Gunderman bought 225,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were purchased at an average cost of $4.37 per share, with a total value of $983,250.00. Following the completion of the purchase, the chief executive officer now owns 1,372,596 shares in the company, valued at approximately $5,998,244.52. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Uniti Group Stock Performance

Shares of UNIT opened at $3.79 on Tuesday. Uniti Group Inc. has a fifty-two week low of $2.94 and a fifty-two week high of $11.71. The firm’s 50-day simple moving average is $3.68 and its two-hundred day simple moving average is $5.49. The stock has a market cap of $904.26 million, a PE ratio of -9.47 and a beta of 1.28.

Uniti Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 15.83%. The ex-dividend date is Thursday, June 15th. Uniti Group’s dividend payout ratio (DPR) is presently -150.00%.

Analyst Upgrades and Downgrades

UNIT has been the subject of several recent analyst reports. Barclays lowered their price objective on shares of Uniti Group from $8.00 to $4.00 in a research note on Friday. Morgan Stanley cut their price objective on Uniti Group from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 7th. Cowen decreased their target price on Uniti Group from $15.00 to $9.00 and set an “outperform” rating for the company in a report on Monday, February 27th. Raymond James reduced their price target on shares of Uniti Group from $12.00 to $8.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 1st. Finally, Citigroup lowered their price objective on shares of Uniti Group from $9.00 to $7.25 and set a “neutral” rating for the company in a report on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Uniti Group currently has a consensus rating of “Hold” and an average price target of $6.89.

About Uniti Group

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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.