Short Interest in Uniti Group Inc (UNIT) Drops By 16.0%

Uniti Group Inc (NASDAQ:UNIT) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 12,661,171 shares, a decline of 16.0% from the September 28th total of 15,081,376 shares. Based on an average daily volume of 1,369,582 shares, the days-to-cover ratio is presently 9.2 days. Approximately 7.5% of the shares of the company are sold short.

A number of research firms have commented on UNIT. ValuEngine raised shares of Uniti Group from a “strong sell” rating to a “sell” rating in a research report on Friday, July 6th. BidaskClub raised shares of Uniti Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 19th. Cowen set a $28.00 price objective on shares of Uniti Group and gave the stock a “buy” rating in a research report on Saturday, August 11th. Finally, Zacks Investment Research cut shares of Uniti Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.80.

UNIT stock opened at $18.67 on Monday. Uniti Group has a one year low of $13.94 and a one year high of $23.42. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 0.86 and a beta of 0.77.



Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.65). Uniti Group had a negative return on equity of 1.45% and a net margin of 1.83%. The company had revenue of $247.30 million for the quarter, compared to the consensus estimate of $250.07 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts predict that Uniti Group will post 2.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.40 dividend on an annualized basis and a yield of 12.85%. Uniti Group’s dividend payout ratio (DPR) is 95.62%.

A number of hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new stake in shares of Uniti Group during the third quarter worth $101,000. Quad Cities Investment Group LLC acquired a new stake in shares of Uniti Group during the second quarter worth $111,000. Winslow Evans & Crocker Inc. lifted its holdings 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 worth $120,000 after buying an additional 5,876 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Uniti Group during the second quarter worth $132,000. Finally, Sei Investments Co. lifted its holdings in shares of Uniti Group by 48.5% during the first quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 3,067 shares in the last quarter. 71.06% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Company 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 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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