Sumitomo Mitsui Trust Holdings Inc. Increases Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 283,546 shares of the real estate investment trust’s stock after acquiring an additional 21,795 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.12% of Uniti Group worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in UNIT. Louisiana State Employees Retirement System bought a new stake in shares of Uniti Group during the 4th quarter valued at $690,000. Cerity Partners LLC purchased a new position in Uniti Group during the 4th quarter valued at about $265,000. Allspring Global Investments Holdings LLC increased its position in shares of Uniti Group by 12.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 73,863 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 8,051 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Uniti Group by 538.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 685,874 shares of the real estate investment trust’s stock worth $3,978,000 after buying an additional 578,371 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC bought a new position in shares of Uniti Group in the fourth quarter valued at approximately $69,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Down 0.5 %

UNIT stock opened at $5.71 on Thursday. Uniti Group Inc. has a 1-year low of $2.94 and a 1-year high of $6.71. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -31.72 and a beta of 1.40. The company’s 50 day moving average is $5.86 and its 200 day moving average is $5.46.

Uniti Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.51%. The ex-dividend date was Wednesday, March 27th. Uniti Group’s payout ratio is -333.33%.

Wall Street Analyst Weigh In

UNIT has been the topic of several recent analyst reports. TD Cowen increased their target price on shares of Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $5.50 price target on shares of Uniti Group in a report on Monday, March 25th.

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 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.