Bank of Montreal Can trimmed its position in Uniti Group Inc (NASDAQ:UNIT) by 93.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,039 shares of the real estate investment trust’s stock after selling 4,006,762 shares during the quarter. Bank of Montreal Can’s holdings in Uniti Group were worth $3,123,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. First Allied Advisory Services Inc. raised its stake in shares of Uniti Group by 5.7% in the fourth quarter. First Allied Advisory Services Inc. now owns 13,598 shares of the real estate investment trust’s stock valued at $212,000 after purchasing an additional 728 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Uniti Group by 6.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 11,569 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 732 shares in the last quarter. Private Capital Group LLC raised its stake in shares of Uniti Group by 52.7% in the fourth quarter. Private Capital Group LLC now owns 2,150 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 742 shares in the last quarter. Securian Asset Management Inc raised its stake in shares of Uniti Group by 0.9% in the fourth quarter. Securian Asset Management Inc now owns 87,860 shares of the real estate investment trust’s stock valued at $1,368,000 after purchasing an additional 747 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Uniti Group by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 32,789 shares of the real estate investment trust’s stock valued at $510,000 after acquiring an additional 910 shares during the period. Institutional investors and hedge funds own 69.11% of the company’s stock.
Shares of NASDAQ:UNIT opened at $10.21 on Thursday. Uniti Group Inc has a fifty-two week low of $8.06 and a fifty-two week high of $23.42. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 4.07, a P/E/G ratio of 1.72 and a beta of 1.04.
Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Thursday, May 9th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.54). Uniti Group had a net margin of 1.16% and a negative return on equity of 0.82%. The company had revenue of $261.03 million during the quarter, compared to the consensus estimate of $270.25 million. On average, equities research analysts anticipate that Uniti Group Inc will post 2.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, June 27th. Uniti Group’s payout ratio is presently 7.97%.
UNIT has been the topic of a number of analyst reports. Raymond James cut Uniti Group from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, February 19th. Wells Fargo & Co cut Uniti Group from a “market perform” rating to an “underperform” rating and upped their price target for the company from $8.00 to $23.00 in a research report on Tuesday, March 5th. JPMorgan Chase & Co. cut Uniti Group from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $23.00 to $16.00 in a research report on Tuesday, February 19th. Cowen cut Uniti Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 19th. Finally, BidaskClub cut Uniti Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Uniti Group currently has an average rating of “Hold” and an average price target of $15.00.
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Uniti Group 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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