Renaissance Technologies LLC purchased a new position in shares of Uniti Group Inc (NASDAQ:UNIT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,286 shares of the real estate investment trust’s stock, valued at approximately $366,000.
Other large investors have also added to or reduced their stakes in the company. Quad Cities Investment Group LLC bought a new position in Uniti Group during the second quarter worth about $111,000. Winslow Evans & Crocker Inc. increased its position in Uniti Group by 16,322.2% during the second quarter. Winslow Evans & Crocker Inc. now owns 5,912 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 5,876 shares during the period. Cornerstone Wealth Management LLC bought a new position in Uniti Group during the second quarter worth about $629,000. Homrich & Berg bought a new position in Uniti Group during the second quarter worth about $322,000. Finally, American Asset Management Inc. increased its position in Uniti Group by 20.8% during the second quarter. American Asset Management Inc. now owns 19,450 shares of the real estate investment trust’s stock worth $390,000 after acquiring an additional 3,346 shares during the period. 71.05% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the stock. Citigroup lowered shares of Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price target on the stock. in a research report on Wednesday, July 18th. Zacks Investment Research lowered shares of Uniti Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. ValuEngine upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. BidaskClub downgraded shares of Uniti Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $22.00 price objective on shares of Uniti Group in a research note on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $25.80.
Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The firm had revenue of $252.60 million for the quarter, compared to analyst estimates of $253.97 million. Uniti Group had a negative return on equity of 1.33% and a net margin of 1.76%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. Equities analysts predict that Uniti Group Inc will post 2.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.40 dividend on an annualized basis and a yield of 12.08%. Uniti Group’s payout ratio is 95.62%.
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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 wireless infrastructure solutions for the communications industry. As of June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.
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