Raymond James Trust N.A. Reduces Stock Holdings in Uniti Group Inc (NASDAQ:UNIT)

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Raymond James Trust N.A. lowered its position in Uniti Group Inc (NASDAQ:UNIT) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,527 shares of the real estate investment trust’s stock after selling 1,673 shares during the quarter. Raymond James Trust N.A.’s holdings in Uniti Group were worth $95,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Uniti Group by 32.9% in the second quarter. BlackRock Inc. now owns 21,726,815 shares of the real estate investment trust’s stock valued at $206,406,000 after purchasing an additional 5,384,528 shares during the period. State Street Corp boosted its stake in Uniti Group by 0.7% during the third quarter. State Street Corp now owns 5,885,928 shares of the real estate investment trust’s stock worth $45,994,000 after buying an additional 38,146 shares during the period. Northern Trust Corp boosted its stake in Uniti Group by 9.6% during the second quarter. Northern Trust Corp now owns 1,513,649 shares of the real estate investment trust’s stock worth $14,379,000 after buying an additional 132,603 shares during the period. Zimmer Partners LP purchased a new position in Uniti Group during the second quarter worth about $12,392,000. Finally, Nuveen Asset Management LLC purchased a new position in Uniti Group during the second quarter worth about $11,006,000. 81.63% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on UNIT shares. BidaskClub raised shares of Uniti Group from a “hold” rating to a “buy” rating in a research note on Wednesday, December 18th. ValuEngine raised shares of Uniti Group from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research raised shares of Uniti Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $11.96.

Shares of UNIT opened at $7.47 on Tuesday. The stock has a market capitalization of $1.44 billion, a PE ratio of 46.66, a P/E/G ratio of 1.21 and a beta of 1.10. Uniti Group Inc has a 1 year low of $5.24 and a 1 year high of $20.14. The company’s 50-day simple moving average is $7.78 and its 200-day simple moving average is $7.78.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Thursday, November 7th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.54). The business had revenue of $263.63 million for the quarter, compared to analyst estimates of $270.14 million. Uniti Group had a negative return on equity of 2.17% and a net margin of 3.06%. On average, equities research analysts forecast that Uniti Group Inc will post 2.04 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 11.79%. The ex-dividend date was Monday, December 30th. This is a boost from Uniti Group’s previous quarterly dividend of $0.05. Uniti Group’s dividend payout ratio is currently 35.06%.

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.

Further Reading: Municipal Bonds

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

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