Emerald Mutual Fund Advisers Trust purchased a new stake in Uniti Group Inc (NASDAQ:UNIT) in the 3rd quarter, HoldingsChannel reports. The fund purchased 212,552 shares of the real estate investment trust’s stock, valued at approximately $4,283,000.
Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Uniti Group in the 3rd quarter valued at approximately $101,000. Quad Cities Investment Group LLC acquired a new position in Uniti Group in the 2nd quarter valued at approximately $111,000. Winslow Evans & Crocker Inc. raised its holdings in Uniti Group by 16,322.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 5,912 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 5,876 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Uniti Group in the 2nd quarter valued at approximately $132,000. Finally, Sei Investments Co. raised its holdings in Uniti Group by 48.5% in the 1st quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 3,067 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.
Shares of UNIT opened at $20.01 on Friday. Uniti Group Inc has a 1 year low of $13.94 and a 1 year high of $23.42. The company has a market capitalization of $3.34 billion, a PE ratio of 7.97, a P/E/G ratio of 0.88 and a beta of 0.77.
Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). Uniti Group had a negative return on equity of 1.45% and a net margin of 1.83%. The company had revenue of $252.60 million during the quarter, compared to analyst estimates of $253.97 million. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts predict that Uniti Group Inc will post 2.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 11.99%. Uniti Group’s payout ratio is presently 95.62%.
Several research firms have commented on UNIT. ValuEngine raised Uniti Group from a “strong sell” rating to a “sell” rating in a report on Friday, July 6th. BidaskClub raised Uniti Group from a “buy” rating to a “strong-buy” rating in a report on Friday, October 19th. Cowen set a $28.00 price target on Uniti Group and gave the company a “buy” rating in a report on Saturday, August 11th. Finally, Zacks Investment Research cut Uniti Group from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $25.80.
Uniti Group Company Profile
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.
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