BlackRock Inc. increased its position in Uniti Group Inc. (NASDAQ:UNIT – Get Rating) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,945,737 shares of the real estate investment trust’s stock after acquiring an additional 249,439 shares during the period. BlackRock Inc. owned approximately 16.00% of Uniti Group worth $263,723,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of UNIT. Blueshift Asset Management LLC acquired a new stake in Uniti Group in the third quarter valued at $92,000. Caxton Associates LP increased its holdings in Uniti Group by 30.3% during the 3rd quarter. Caxton Associates LP now owns 37,119 shares of the real estate investment trust’s stock valued at $258,000 after acquiring an additional 8,626 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Uniti Group by 10.7% during the third quarter. Commonwealth Equity Services LLC now owns 18,148 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 1,758 shares during the last quarter. Tudor Investment Corp Et Al acquired a new stake in shares of Uniti Group in the third quarter valued at approximately $174,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Uniti Group during the 3rd quarter worth approximately $127,000. 83.82% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
UNIT has been the topic of a number of analyst reports. Barclays lowered their target price on Uniti Group from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, February 27th. Citigroup cut their target price on shares of Uniti Group from $9.00 to $7.25 and set a “neutral” rating for the company in a research note on Wednesday, February 1st. Raymond James lowered their price target on shares of Uniti Group from $12.00 to $8.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 1st. The Goldman Sachs Group reduced their price objective on shares of Uniti Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, February 27th. Finally, Cowen lowered their target price on shares of Uniti Group from $15.00 to $9.00 and set an “outperform” rating for the company in a research note on Monday, February 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Uniti Group currently has an average rating of “Hold” and a consensus target price of $7.46.
Uniti Group Stock Down 1.2 %
UNIT stock opened at $4.28 on Monday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -38.91, a PEG ratio of 0.19 and a beta of 1.31. The business has a fifty day simple moving average of $5.84 and a 200-day simple moving average of $6.83. Uniti Group Inc. has a 52 week low of $4.20 and a 52 week high of $14.25.
Uniti Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 14.02%. Uniti Group’s dividend payout ratio (DPR) is -545.45%.
Uniti Group Company Profile
Uniti Group, Inc is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis.
- Get a free copy of the StockNews.com research report on Uniti Group (UNIT)
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
- Can Investors Trust Consumers to Lift American Outdoor Brands?
Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.