Uniti Group Inc (UNIT) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its stake in shares of Uniti Group Inc (NASDAQ:UNIT) by 33.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 50,000 shares of the real estate investment trust’s stock after selling 25,000 shares during the period. Sterling Capital Management LLC’s holdings in Uniti Group were worth $1,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UNIT. Truvestments Capital LLC purchased a new position in shares of Uniti Group during the third quarter valued at about $101,000. Quad Cities Investment Group LLC purchased a new position in shares of Uniti Group during the second quarter valued at about $111,000. Winslow Evans & Crocker Inc. increased its position in shares of 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 valued at $120,000 after buying an additional 5,876 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Uniti Group during the second quarter valued at about $132,000. Finally, Oakbrook Investments LLC purchased a new position in shares of Uniti Group during the third quarter valued at about $217,000. Institutional investors own 71.05% of the company’s stock.

NASDAQ:UNIT opened at $19.76 on Friday. Uniti Group Inc has a one year low of $13.94 and a one year high of $23.42. The stock has a market cap of $3.65 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.76.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Uniti Group had a negative return on equity of 1.33% and a net margin of 1.76%. The business had revenue of $252.60 million for the quarter, compared to the consensus estimate of $253.97 million. During the same period in the previous year, the firm earned $0.55 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, analysts expect that Uniti Group Inc will post 2.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 12.15%. The ex-dividend date is Friday, December 28th. Uniti Group’s payout ratio is currently 95.62%.

Several equities analysts recently issued reports on UNIT shares. BidaskClub cut shares of Uniti Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 1st. Royal Bank of Canada reissued a “buy” rating and set a $22.00 price objective on shares of Uniti Group in a research note on Friday, August 17th. Cowen set a $28.00 price objective on shares of Uniti Group and gave the stock a “buy” rating in a research note on Saturday, August 11th. Zacks Investment Research lowered shares of Uniti Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Finally, ValuEngine raised shares of Uniti Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Uniti Group presently has an average rating of “Hold” and an average target price of $25.80.

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

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