Rational Advisors LLC purchased a new stake in shares of Uniti Group Inc (NASDAQ:UNIT) during the first quarter, Holdings Channel reports. The fund purchased 44,600 shares of the real estate investment trust’s stock, valued at approximately $1,153,000.
A number of other institutional investors have also recently bought and sold shares of UNIT. Sei Investments Co. purchased a new position in Uniti Group during the first quarter valued at about $107,000. Delta Asset Management LLC TN purchased a new position in Uniti Group during the first quarter valued at about $127,000. Glen Harbor Capital Management LLC purchased a new position in Uniti Group during the first quarter valued at about $134,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Uniti Group during the first quarter valued at about $136,000. Finally, Tyers Asset Management LLC purchased a new position in Uniti Group during the first quarter valued at about $184,000. Institutional investors and hedge funds own 62.80% of the company’s stock.
Uniti Group Inc (NASDAQ:UNIT) traded up 1.22% during trading on Friday, reaching $24.10. The company’s stock had a trading volume of 1,418,080 shares. The stock’s market cap is $4.23 billion. The firm has a 50 day moving average price of $25.81 and a 200-day moving average price of $26.12. Uniti Group Inc has a 52-week low of $22.50 and a 52-week high of $32.73.
Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, February 23rd. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.05. Uniti Group had a net margin of 1.54% and a negative return on equity of 0.88%. The company had revenue of $206.90 million during the quarter, compared to the consensus estimate of $206.88 million. The company’s revenue was up 19.0% on a year-over-year basis. On average, analysts expect that Uniti Group Inc will post ($0.05) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.96%. Uniti Group’s dividend payout ratio (DPR) is presently 4,800.00%.
Several equities analysts recently issued reports on UNIT shares. Wells Fargo & Co started coverage on Uniti Group in a report on Thursday, February 16th. They issued an “outperform” rating on the stock. Morgan Stanley initiated coverage on Uniti Group in a report on Tuesday, February 28th. They issued an “overweight” rating on the stock. Finally, Zacks Investment Research lowered Uniti Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Uniti Group has an average rating of “Buy” and an average price target of $32.80.
In related news, insider Kenny Gunderman purchased 14,500 shares of Uniti Group stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $24.15 per share, for a total transaction of $350,175.00. Following the transaction, the insider now owns 262,053 shares of the company’s stock, valued at approximately $6,328,579.95. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.
Uniti Group Company Profile
Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.
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