Shares of Uniti Group Inc (NASDAQ:UNIT) have received an average rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.57.
Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded Uniti Group from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $23.00 to $16.00 in a report on Tuesday, February 19th. Cowen cut Uniti Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 19th. Raymond James cut Uniti Group from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, February 19th. BidaskClub raised Uniti Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 29th. Finally, Royal Bank of Canada cut Uniti Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $22.00 to $15.00 in a research report on Wednesday, February 20th.
UNIT traded down $0.23 during trading on Thursday, reaching $10.27. The stock had a trading volume of 1,650,773 shares, compared to its average volume of 4,439,440. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 4.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. Uniti Group has a one year low of $8.06 and a one year high of $23.42.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.20 annualized dividend and a yield of 1.95%. Uniti Group’s payout ratio is 7.97%.
A number of large investors have recently made changes to their positions in UNIT. Private Capital Group LLC raised its stake in shares of Uniti Group by 52.7% in the fourth quarter. Private Capital Group LLC now owns 2,150 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 742 shares during the period. Truvestments Capital LLC bought a new position in shares of Uniti Group in the 1st quarter worth $59,000. Oregon Public Employees Retirement Fund raised its position in shares of Uniti Group by 1,578.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,091,800 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 1,026,739 shares in the last quarter. Athena Capital Advisors LLC bought a new position in shares of Uniti Group in the 4th quarter worth $82,000. Finally, Rocky Mountain Advisers LLC raised its position in shares of Uniti Group by 1,566.7% in the 1st quarter. Rocky Mountain Advisers LLC now owns 7,500 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 7,050 shares in the last quarter. 74.84% of the stock is currently owned by institutional investors and hedge funds.
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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