Kingswood Wealth Advisors LLC Takes $85,000 Position in Uniti Group Inc. (NASDAQ:UNIT)

Kingswood Wealth Advisors LLC acquired a new position in shares of Uniti Group Inc. (NASDAQ:UNITFree Report) in the 4th quarter, Holdings Channel reports. The fund acquired 14,646 shares of the real estate investment trust’s stock, valued at approximately $85,000.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB acquired a new stake in Uniti Group in the 4th quarter valued at $9,714,000. Charles Schwab Investment Management Inc. boosted its position in Uniti Group by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,443,763 shares of the real estate investment trust’s stock valued at $30,415,000 after purchasing an additional 545,205 shares during the last quarter. DigitalBridge Group Inc. boosted its position in Uniti Group by 55.1% during the third quarter. DigitalBridge Group Inc. now owns 1,676,326 shares of the real estate investment trust’s stock valued at $7,912,000 after purchasing an additional 595,864 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Uniti Group by 4,568.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 266,100 shares of the real estate investment trust’s stock valued at $1,256,000 after purchasing an additional 260,400 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Uniti Group by 226.7% during the 3rd quarter. Federated Hermes Inc. now owns 1,555,458 shares of the real estate investment trust’s stock worth $7,342,000 after purchasing an additional 1,079,300 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UNIT has been the subject of several analyst reports. TD Cowen raised their target price on shares of Uniti Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.50 price objective on shares of Uniti Group in a research report on Monday, March 25th.

Get Our Latest Research Report on UNIT

Uniti Group Trading Up 0.5 %

Shares of NASDAQ UNIT opened at $5.90 on Friday. The company has a market capitalization of $1.41 billion, a P/E ratio of -32.78 and a beta of 1.41. Uniti Group Inc. has a 12 month low of $2.94 and a 12 month high of $6.71. The stock has a 50 day moving average of $5.71 and a 200-day moving average of $5.35.

Uniti Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a yield of 10.17%. Uniti Group’s dividend payout ratio (DPR) is -333.31%.

About Uniti Group

(Free Report)

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 fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.

See Also

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Institutional Ownership by Quarter for Uniti Group (NASDAQ:UNIT)

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