Mackenzie Financial Corp Sells 13,623 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Mackenzie Financial Corp lessened its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 30.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 30,605 shares of the real estate investment trust’s stock after selling 13,623 shares during the period. Mackenzie Financial Corp’s holdings in Uniti Group were worth $177,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in UNIT. Nordea Investment Management AB bought a new stake in Uniti Group during the 4th quarter worth approximately $9,714,000. DekaBank Deutsche Girozentrale increased its stake 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 worth $3,978,000 after purchasing an additional 578,371 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Uniti Group by 9.2% during the 3rd 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 period. DigitalBridge Group Inc. lifted its stake in shares of Uniti Group by 55.1% during the 3rd quarter. DigitalBridge Group Inc. now owns 1,676,326 shares of the real estate investment trust’s stock valued at $7,912,000 after buying an additional 595,864 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Uniti Group by 4,568.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 266,100 shares of the real estate investment trust’s stock worth $1,256,000 after buying an additional 260,400 shares during the period. Institutional investors own 87.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on UNIT. TD Cowen raised their price target on Uniti Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $5.50 price target on shares of Uniti Group in a research note on Monday, March 25th.

Uniti Group Trading Down 1.4 %

Shares of Uniti Group stock opened at $5.70 on Tuesday. Uniti Group Inc. has a 12 month low of $3.06 and a 12 month high of $6.71. The stock has a 50 day moving average of $5.89 and a 200 day moving average of $5.48. The firm has a market cap of $1.37 billion, a PE ratio of -31.66 and a beta of 1.40.

Uniti Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.53%. The ex-dividend date was Wednesday, March 27th. Uniti Group’s dividend payout ratio (DPR) is presently -333.31%.

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 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.