Neuburgh Advisers LLC lowered its holdings in Uniti Group Inc (NASDAQ:UNIT) by 56.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,876 shares of the real estate investment trust’s stock after selling 49,470 shares during the period. Neuburgh Advisers LLC’s holdings in Uniti Group were worth $360,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Quinn Opportunity Partners LLC bought a new stake in Uniti Group in the 1st quarter valued at about $1,410,000. Dimensional Fund Advisors LP boosted its holdings in Uniti Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,574,722 shares of the real estate investment trust’s stock valued at $40,090,000 after purchasing an additional 75,056 shares during the period. Pacer Advisors Inc. boosted its holdings in Uniti Group by 609.0% in the 2nd quarter. Pacer Advisors Inc. now owns 224,659 shares of the real estate investment trust’s stock valued at $2,134,000 after purchasing an additional 192,973 shares during the period. Nordea Investment Management AB boosted its holdings in Uniti Group by 22.3% in the 1st quarter. Nordea Investment Management AB now owns 222,961 shares of the real estate investment trust’s stock valued at $2,495,000 after purchasing an additional 40,623 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Uniti Group by 125.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 54,911 shares of the real estate investment trust’s stock valued at $614,000 after purchasing an additional 30,512 shares during the period. 77.26% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Uniti Group from a “hold” rating to a “strong sell” rating in a report on Thursday, August 15th. BidaskClub raised shares of Uniti Group from a “strong sell” rating to a “sell” rating in a report on Thursday. Seven research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Sell” and a consensus target price of $12.57.
Shares of NASDAQ:UNIT traded up $0.18 during midday trading on Thursday, hitting $8.19. The stock had a trading volume of 80,551 shares, compared to its average volume of 3,815,210. The company’s 50-day moving average price is $8.12 and its 200-day moving average price is $9.77. The company has a market capitalization of $1.53 billion, a P/E ratio of 3.26, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06. Uniti Group Inc has a fifty-two week low of $7.05 and a fifty-two week high of $21.25.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, September 27th. Uniti Group’s payout ratio is presently 7.97%.
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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
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