Nisa Investment Advisors LLC Decreases Position in Uniti Group Inc. (NASDAQ:UNIT)

Nisa Investment Advisors LLC decreased its position in Uniti Group Inc. (NASDAQ:UNIT) by 19.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 203,992 shares of the real estate investment trust’s stock after selling 48,724 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Uniti Group were worth $1,179,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB purchased a new position in shares of Uniti Group in the fourth quarter valued at about $9,714,000. DekaBank Deutsche Girozentrale increased its position in shares of Uniti Group by 538.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 685,874 shares of the real estate investment trust’s stock valued at $3,978,000 after acquiring an additional 578,371 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Uniti Group by 9.2% in 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 acquiring an additional 545,205 shares during the period. DigitalBridge Group Inc. increased its position in shares of Uniti Group by 55.1% in 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 acquiring an additional 595,864 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of 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 acquiring an additional 260,400 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Down 2.5 %

Shares of UNIT opened at $5.47 on Tuesday. The firm’s 50-day moving average price is $5.79 and its 200-day moving average price is $5.42. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -30.39 and a beta of 1.40. Uniti Group Inc. has a 1-year low of $2.94 and a 1-year high of $6.71.

Uniti Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.97%. The ex-dividend date was Wednesday, March 27th. Uniti Group’s payout ratio is -333.31%.

Analysts Set New Price Targets

UNIT has been the topic of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $5.50 price objective on shares of Uniti Group in a research report on Monday, March 25th. TD Cowen lifted 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.

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 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.