Uniti Group Inc (NASDAQ:UNIT) Stake Lessened by Riverhead Capital Management LLC

Riverhead Capital Management LLC lowered its holdings in Uniti Group Inc (NASDAQ:UNIT) by 56.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,958 shares of the real estate investment trust’s stock after selling 36,480 shares during the period. Riverhead Capital Management LLC’s holdings in Uniti Group were worth $266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Uniti Group by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,574,722 shares of the real estate investment trust’s stock worth $40,090,000 after acquiring an additional 75,056 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Uniti Group by 14.7% in the fourth quarter. Geode Capital Management LLC now owns 1,927,806 shares of the real estate investment trust’s stock worth $30,015,000 after acquiring an additional 247,076 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Uniti Group by 23.8% in the first quarter. SG Americas Securities LLC now owns 61,864 shares of the real estate investment trust’s stock worth $692,000 after acquiring an additional 11,897 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Uniti Group by 3.8% in the first quarter. Texas Permanent School Fund now owns 121,525 shares of the real estate investment trust’s stock worth $1,360,000 after acquiring an additional 4,402 shares during the last quarter. Finally, Stevens Capital Management LP increased its stake in shares of Uniti Group by 146.0% in the first quarter. Stevens Capital Management LP now owns 31,891 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 18,925 shares during the last quarter. Institutional investors own 77.26% of the company’s stock.

Uniti Group stock traded down $0.25 during mid-day trading on Friday, hitting $8.01. 37,776 shares of the company’s stock were exchanged, compared to its average volume of 1,870,985. The stock has a market cap of $1.51 billion, a P/E ratio of 3.21, a P/E/G ratio of 1.30 and a beta of 1.06. Uniti Group Inc has a 1-year low of $7.05 and a 1-year high of $21.25. The stock has a 50 day moving average of $8.12 and a two-hundred day moving average of $9.77.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.50%. The ex-dividend date is Friday, September 27th. Uniti Group’s payout ratio is 7.97%.

A number of research firms have recently weighed in on UNIT. Zacks Investment Research downgraded shares of Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 15th. BidaskClub raised shares of Uniti Group from a “strong sell” rating to a “sell” rating in a research note on Thursday. Seven research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Uniti Group presently has a consensus rating of “Sell” and an average target price 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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