Zurcher Kantonalbank Zurich Cantonalbank Sells 17,441 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,669 shares of the real estate investment trust’s stock after selling 17,441 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Uniti Group were worth $414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Uniti Group by 81.3% during the third quarter. SG Americas Securities LLC now owns 169,876 shares of the real estate investment trust’s stock valued at $802,000 after buying an additional 76,164 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Uniti Group by 42,622.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 369,125 shares of the real estate investment trust’s stock worth $1,742,000 after purchasing an additional 368,261 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Uniti Group by 21.9% in the third quarter. Commonwealth Equity Services LLC now owns 17,644 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 3,169 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Uniti Group by 14.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,037,174 shares of the real estate investment trust’s stock worth $4,895,000 after purchasing an additional 128,281 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Uniti Group by 7.3% in the third quarter. Mackenzie Financial Corp now owns 44,228 shares of the real estate investment trust’s stock valued at $197,000 after purchasing an additional 3,003 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on UNIT shares. TD Cowen upped their price target on Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $5.50 target price on shares of Uniti Group in a research note on Monday, March 25th.

Uniti Group Stock Down 26.4 %

Shares of NASDAQ UNIT opened at $4.44 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of -24.67 and a beta of 1.40. The stock’s 50 day moving average price is $5.88 and its 200-day moving average price is $5.49. Uniti Group Inc. has a twelve month low of $3.22 and a twelve month high of $6.71.

Uniti Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a $0.15 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 annualized dividend and a yield of 13.51%. Uniti Group’s dividend payout ratio is currently -333.33%.

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 fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.