Uniti Group Inc (NASDAQ:UNIT) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.00.
UNIT has been the subject of a number of recent research reports. Citigroup downgraded shares of Uniti Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 26th. ValuEngine downgraded shares of Uniti Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 31st. Royal Bank of Canada dropped their price target on shares of Uniti Group from $32.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Cowen reissued a “buy” rating and set a $30.00 price target on shares of Uniti Group in a research note on Thursday, October 19th. Finally, BidaskClub downgraded shares of Uniti Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th.
A number of large investors have recently modified their holdings of UNIT. Gabelli Funds LLC increased its stake in Uniti Group by 188.9% in the third quarter. Gabelli Funds LLC now owns 156,000 shares of the real estate investment trust’s stock valued at $2,287,000 after purchasing an additional 102,000 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in Uniti Group by 636.3% in the third quarter. Gamco Investors INC. ET AL now owns 67,000 shares of the real estate investment trust’s stock valued at $982,000 after purchasing an additional 57,900 shares in the last quarter. Messner & Smith Theme Value Investment Management Ltd. CA bought a new stake in Uniti Group in the third quarter valued at approximately $757,000. PVG Asset Management Corp increased its stake in Uniti Group by 31.5% in the third quarter. PVG Asset Management Corp now owns 173,868 shares of the real estate investment trust’s stock valued at $2,549,000 after purchasing an additional 41,666 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Uniti Group in the third quarter valued at approximately $316,000. 70.01% of the stock is owned by hedge funds and other institutional investors.
Uniti Group (NASDAQ UNIT) traded down $0.47 on Monday, hitting $16.55. 2,822,300 shares of the company were exchanged, compared to its average volume of 1,972,771. The company has a debt-to-equity ratio of -0.05, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $2,900.00 and a P/E ratio of -61.30. Uniti Group has a twelve month low of $13.81 and a twelve month high of $29.65.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 14.50%. The ex-dividend date of this dividend is Thursday, December 28th. Uniti Group’s payout ratio is presently -888.89%.
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Uniti Group Company Profile
Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.
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