Wright Investors Service Inc. raised its holdings in shares of Uniti Group Inc (NASDAQ:UNIT) by 178.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,616 shares of the real estate investment trust’s stock after acquiring an additional 19,615 shares during the quarter. Wright Investors Service Inc.’s holdings in Uniti Group were worth $545,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Sutton Square Management L.P. bought a new stake in Uniti Group during the fourth quarter worth approximately $4,337,000. PVG Asset Management Corp boosted its position in shares of Uniti Group by 31.5% during 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 buying an additional 41,666 shares during the period. Gabelli Funds LLC boosted its position in shares of Uniti Group by 188.9% during 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 buying an additional 102,000 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Uniti Group by 9.9% during the fourth quarter. State of Alaska Department of Revenue now owns 103,350 shares of the real estate investment trust’s stock valued at $1,837,000 after buying an additional 9,270 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Uniti Group by 39.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 70,200 shares of the real estate investment trust’s stock valued at $1,249,000 after purchasing an additional 19,800 shares during the period. 69.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Uniti Group Inc (NASDAQ UNIT) opened at $15.07 on Thursday. The company has a debt-to-equity ratio of -0.05, a current ratio of 0.03 and a quick ratio of 0.03. Uniti Group Inc has a 1-year low of $13.81 and a 1-year high of $29.65. The company has a market cap of $2,640.00 and a price-to-earnings ratio of -55.81.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 15.93%. The ex-dividend date is Wednesday, March 28th. Uniti Group’s payout ratio is currently -888.89%.
A number of brokerages recently issued reports on UNIT. BidaskClub upgraded Uniti Group from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. ValuEngine lowered Uniti Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 31st. Royal Bank of Canada reduced their price target on Uniti Group from $32.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, November 6th. Finally, Cowen reaffirmed a “buy” rating on shares of Uniti Group in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.14.
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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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