Steward Partners Investment Advisory LLC Sells 12,428 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Steward Partners Investment Advisory LLC cut its holdings in Uniti Group Inc. (NASDAQ:UNITFree Report) by 15.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,659 shares of the real estate investment trust’s stock after selling 12,428 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Uniti Group were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. lifted its stake in Uniti Group by 1.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 270,300 shares of the real estate investment trust’s stock valued at $1,562,000 after buying an additional 4,200 shares during the period. Aigen Investment Management LP bought a new stake in shares of Uniti Group in the 4th quarter valued at $586,000. Norges Bank acquired a new position in shares of Uniti Group during the 4th quarter valued at $9,139,000. Panagora Asset Management Inc. bought a new position in Uniti Group during the fourth quarter worth $2,766,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Uniti Group by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,102 shares of the real estate investment trust’s stock worth $870,000 after acquiring an additional 7,395 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UNIT has been the subject of several research analyst reports. Raymond James downgraded shares of Uniti Group from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $8.00 to $6.00 in a research note on Monday, May 6th. TD Cowen boosted their target price on Uniti Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $5.50 price target on shares of Uniti Group in a report on Monday, March 25th.

Get Our Latest Stock Report on Uniti Group

Uniti Group Trading Down 0.2 %

UNIT opened at $3.26 on Friday. Uniti Group Inc. has a 1-year low of $2.99 and a 1-year high of $6.71. The company has a market cap of $783.25 million, a price-to-earnings ratio of 54.34 and a beta of 1.27. The company’s fifty day moving average price is $4.54 and its two-hundred day moving average price is $5.28.

Uniti Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 18.40%. Uniti Group’s dividend payout ratio is presently 1,000.17%.

Uniti Group Company Profile

(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.

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

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