Neuburgh Advisers LLC increased its holdings in shares of Uniti Group Inc (NASDAQ:UNIT) by 80.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,346 shares of the real estate investment trust’s stock after buying an additional 38,828 shares during the period. Neuburgh Advisers LLC’s holdings in Uniti Group were worth $977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in UNIT. Nomura Holdings Inc. purchased a new position in shares of Uniti Group during the 4th quarter valued at approximately $45,727,000. Vanguard Group Inc lifted its position in shares of Uniti Group by 9.2% during the 3rd quarter. Vanguard Group Inc now owns 24,299,028 shares of the real estate investment trust’s stock valued at $489,626,000 after buying an additional 2,051,974 shares in the last quarter. Norges Bank purchased a new position in shares of Uniti Group during the 4th quarter valued at approximately $23,467,000. Oregon Public Employees Retirement Fund lifted its position in shares of Uniti Group by 1,578.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,091,800 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 1,026,739 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Uniti Group by 154.5% during the 4th quarter. LSV Asset Management now owns 1,201,301 shares of the real estate investment trust’s stock valued at $18,704,000 after buying an additional 729,201 shares in the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.
Several research firms recently commented on UNIT. Deutsche Bank reduced their price objective on Uniti Group from $20.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. BidaskClub raised Uniti Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research raised Uniti Group from a “strong sell” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, May 22nd. ValuEngine downgraded Uniti Group from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Finally, Morgan Stanley reduced their price objective on Uniti Group from $16.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, February 26th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Uniti Group currently has a consensus rating of “Hold” and a consensus target price of $14.50.
NASDAQ UNIT opened at $10.77 on Friday. Uniti Group Inc has a one year low of $8.06 and a one year high of $23.15. The firm has a market capitalization of $1.95 billion, a P/E ratio of 4.28, a PEG ratio of 1.59 and a beta of 1.10.
Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.54). Uniti Group had a net margin of 1.16% and a negative return on equity of 0.82%. The firm had revenue of $261.03 million during the quarter, compared to analyst estimates of $270.25 million. Equities analysts predict that Uniti Group Inc will post 2.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, June 27th. Uniti Group’s dividend payout ratio (DPR) is presently 7.97%.
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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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
Further Reading: What is a capital gain?
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