Alliancebernstein L.P. reduced its stake in Uniti Group Inc. (NASDAQ:UNIT) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,844 shares of the real estate investment trust’s stock after selling 14,292 shares during the period. Alliancebernstein L.P. owned approximately 0.12% of Uniti Group worth $3,032,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Veriti Management LLC purchased a new position in Uniti Group in the fourth quarter valued at $77,000. Mcmillion Capital Management Inc. purchased a new position in Uniti Group in the fourth quarter valued at $89,000. Aaron Wealth Advisors purchased a new position in Uniti Group in the fourth quarter valued at $117,000. Steward Partners Investment Advisory LLC increased its holdings in Uniti Group by 34.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,309 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 2,636 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new position in shares of Uniti Group during the fourth quarter worth about $124,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:UNIT opened at $10.99 on Friday. The firm has a market capitalization of $2.57 billion, a P/E ratio of -3.39 and a beta of 0.88. Uniti Group Inc. has a 52 week low of $8.07 and a 52 week high of $13.40. The firm has a 50-day moving average price of $10.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 2nd. Stockholders of record on Friday, June 18th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, June 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.46%. Uniti Group’s payout ratio is 34.88%.
UNIT has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 5th. Morgan Stanley increased their target price on shares of Uniti Group from $6.00 to $9.50 and gave the stock an “underweight” rating in a research note on Monday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Uniti Group presently has a consensus rating of “Hold” and a consensus price target of $11.50.
Uniti Group 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 wireless infrastructure solutions for the communications industry. As of September 30, 2020, Uniti owns 6.7 million fiber strand miles and other communications real estate throughout the United States.
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