Uniti Group (NASDAQ:UNIT) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Uniti Group (NASDAQ:UNIT) from a strong sell rating to a sell rating in a research note issued to investors on Thursday, BidAskClub reports.

Separately, Zacks Investment Research downgraded Uniti Group from a hold rating to a strong sell rating in a research report on Thursday, August 15th. Seven analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Uniti Group has an average rating of Sell and a consensus target price of $12.57.

Shares of Uniti Group stock traded down $0.19 during trading hours on Thursday, hitting $8.07. The company’s stock had a trading volume of 80,963 shares, compared to its average volume of 1,870,985. The business has a 50 day moving average price of $8.12 and a two-hundred day moving average price of $9.77. Uniti Group has a 12-month low of $7.05 and a 12-month high of $21.25. The company has a market cap of $1.51 billion, a PE ratio of 3.22, a PEG ratio of 1.30 and a beta of 1.06.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 2.48%. Uniti Group’s payout ratio is 7.97%.

Several institutional investors have recently made changes to their positions in UNIT. Dimensional Fund Advisors LP lifted its position 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 valued at $40,090,000 after acquiring an additional 75,056 shares in the last quarter. Geode Capital Management LLC lifted its position 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 valued at $30,015,000 after acquiring an additional 247,076 shares in the last quarter. SG Americas Securities LLC lifted its position 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 valued at $692,000 after acquiring an additional 11,897 shares in the last quarter. Texas Permanent School Fund increased its holdings 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 purchasing an additional 4,402 shares during the last quarter. Finally, Stevens Capital Management LP increased its holdings 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 purchasing an additional 18,925 shares during the last quarter. Institutional investors and hedge funds own 77.26% of the company’s stock.

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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