LPL Financial LLC grew its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 73.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,866 shares of the real estate investment trust’s stock after acquiring an additional 16,492 shares during the quarter. LPL Financial LLC’s holdings in Uniti Group were worth $691,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in Uniti Group by 20.4% in the fourth quarter. Bank of Montreal Can now owns 21,306 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 3,608 shares in the last quarter. American International Group Inc. raised its stake in Uniti Group by 1.1% in the fourth quarter. American International Group Inc. now owns 341,246 shares of the real estate investment trust’s stock valued at $6,071,000 after purchasing an additional 3,852 shares in the last quarter. Advisory Services Network LLC raised its stake in Uniti Group by 10.0% in the fourth quarter. Advisory Services Network LLC now owns 51,251 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 4,651 shares in the last quarter. Swiss National Bank raised its stake in Uniti Group by 1.8% in the fourth quarter. Swiss National Bank now owns 283,874 shares of the real estate investment trust’s stock valued at $5,050,000 after purchasing an additional 5,100 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Uniti Group by 9.9% in 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 purchasing an additional 9,270 shares in the last quarter. 76.39% of the stock is owned by institutional investors and hedge funds.
UNIT stock opened at $16.14 on Friday. The company has a debt-to-equity ratio of -0.05, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market capitalization of $2,840.60, a P/E ratio of 6.43, a P/E/G ratio of 0.87 and a beta of 0.72. Uniti Group Inc. has a 52 week low of $13.81 and a 52 week high of $27.78.
Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, March 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.62. The business had revenue of $246.30 million for the quarter, compared to analyst estimates of $246.90 million. Uniti Group’s revenue for the quarter was up 19.0% compared to the same quarter last year. sell-side analysts predict that Uniti Group Inc. will post 2.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 30th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 14.87%. The ex-dividend date was Wednesday, March 28th. Uniti Group’s payout ratio is 95.62%.
A number of research analysts recently commented on the company. BidaskClub raised Uniti Group from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. ValuEngine downgraded Uniti Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Cowen set a $26.00 price target on Uniti Group and gave the company a “buy” rating in a research note on Friday, March 2nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $25.57.
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About Uniti Group
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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