Uniti Group (NASDAQ:UNIT) Reaches New 12-Month Low at $3.01

Uniti Group Inc. (NASDAQ:UNITGet Free Report)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $3.01 and last traded at $3.03, with a volume of 236717 shares. The stock had previously closed at $3.11.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UNIT. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a research report on Monday, March 25th. Raymond James cut shares of Uniti Group from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $8.00 to $6.00 in a research report on Monday, May 6th. Finally, TD Cowen lifted their price target on shares of Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st.

Get Our Latest Stock Report on Uniti Group

Uniti Group Stock Down 3.2 %

The stock has a market cap of $723.18 million, a price-to-earnings ratio of 51.84 and a beta of 1.40. The stock’s fifty day moving average is $5.00 and its 200-day moving average is $5.39.

Uniti Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 19.93%. The ex-dividend date of this dividend is Friday, June 14th. Uniti Group’s dividend payout ratio is currently 1,000.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its holdings in Uniti Group by 0.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 310,740 shares of the real estate investment trust’s stock valued at $1,796,000 after purchasing an additional 2,200 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Uniti Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 208,133 shares of the real estate investment trust’s stock valued at $1,228,000 after buying an additional 2,938 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Uniti Group by 49.8% in the first quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 2,960 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Uniti Group by 21.9% in the third quarter. Commonwealth Equity Services LLC now owns 17,644 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 3,169 shares during the period. Finally, Hancock Whitney Corp boosted its holdings in shares of Uniti Group by 4.5% in the first quarter. Hancock Whitney Corp now owns 76,360 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 3,254 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.