Panagora Asset Management Inc. Increases Stock Position in Uniti Group Inc (NASDAQ:UNIT)

Panagora Asset Management Inc. raised its holdings in Uniti Group Inc (NASDAQ:UNIT) by 293.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,497 shares of the real estate investment trust’s stock after purchasing an additional 26,483 shares during the quarter. Panagora Asset Management Inc.’s holdings in Uniti Group were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in UNIT. Mcmillion Capital Management Inc. acquired a new stake in shares of Uniti Group in the 2nd quarter valued at about $73,000. Ford Financial Group Inc. acquired a new stake in shares of Uniti Group during the 2nd quarter worth approximately $103,000. Sigma Planning Corp grew its position in shares of Uniti Group by 13.9% during the 2nd quarter. Sigma Planning Corp now owns 14,085 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 1,716 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Uniti Group by 11.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 28,213 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 2,831 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Uniti Group during the 2nd quarter worth approximately $275,000. 77.26% of the stock is currently owned by institutional investors.

UNIT stock traded down $0.12 during midday trading on Friday, hitting $8.14. The company had a trading volume of 27,449 shares, compared to its average volume of 1,870,985. Uniti Group Inc has a 52 week low of $7.05 and a 52 week high of $21.25. The stock’s 50 day moving average price is $8.12 and its 200 day moving average price is $9.77. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 3.22, a PEG ratio of 1.30 and a beta of 1.06.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.05 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.20 annualized dividend and a yield of 2.46%. Uniti Group’s payout ratio is currently 7.97%.

Several analysts have recently commented on UNIT shares. Zacks Investment Research downgraded shares of Uniti Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 15th. BidaskClub raised shares of Uniti Group from a “strong sell” rating to a “sell” rating in a research report on Thursday. Seven research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and a consensus price target of $12.57.

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

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