Raymond James Financial Services Advisors Inc. grew its position in Uniti Group Inc. (NASDAQ:UNIT – Get Rating) by 28.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 690,119 shares of the real estate investment trust’s stock after purchasing an additional 154,903 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.29% of Uniti Group worth $4,796,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Aaron Wealth Advisors LLC acquired a new position in Uniti Group in the 3rd quarter worth approximately $9,446,000. Nomura Holdings Inc. acquired a new position in Uniti Group in the 1st quarter worth approximately $18,073,000. State Street Corp increased its holdings in Uniti Group by 13.9% in the 1st quarter. State Street Corp now owns 8,352,630 shares of the real estate investment trust’s stock worth $116,170,000 after buying an additional 1,016,467 shares during the period. Pacer Advisors Inc. increased its holdings in Uniti Group by 22.4% in the 3rd quarter. Pacer Advisors Inc. now owns 3,165,719 shares of the real estate investment trust’s stock worth $22,002,000 after buying an additional 580,225 shares during the period. Finally, Northern Trust Corp increased its holdings in Uniti Group by 11.9% in the 2nd quarter. Northern Trust Corp now owns 2,384,941 shares of the real estate investment trust’s stock worth $22,466,000 after buying an additional 252,773 shares during the period. 83.82% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Uniti Group from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. Morgan Stanley dropped their price objective on shares of Uniti Group from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, October 24th. Citigroup dropped their price objective on shares of Uniti Group from $12.00 to $9.00 in a research note on Sunday, November 13th. Finally, Royal Bank of Canada dropped their price objective on shares of Uniti Group from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 20th.
Uniti Group Stock Performance
Uniti Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 16th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $0.60 dividend on an annualized basis and a yield of 10.00%. Uniti Group’s dividend payout ratio is currently -666.59%.
About Uniti Group
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 September 30, 2020, Uniti owns 6.7 million fiber strand miles and other communications real estate throughout the United States.
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