Riverhead Capital Management LLC Sells 36,480 Shares of Uniti Group Inc (NASDAQ:UNIT)

Riverhead Capital Management LLC decreased its holdings in shares of Uniti Group Inc (NASDAQ:UNIT) by 56.6% in the second quarter, Holdings Channel reports. The firm owned 27,958 shares of the real estate investment trust’s stock after selling 36,480 shares during the quarter. Riverhead Capital Management LLC’s holdings in Uniti Group were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its stake in shares of Uniti Group by 1.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 71,303 shares of the real estate investment trust’s stock valued at $798,000 after acquiring an additional 1,181 shares during the last quarter. Mason Street Advisors LLC raised its stake in shares of Uniti Group by 1.5% in the first quarter. Mason Street Advisors LLC now owns 95,177 shares of the real estate investment trust’s stock valued at $1,065,000 after acquiring an additional 1,426 shares during the last quarter. Sigma Planning Corp raised its stake in shares of Uniti Group by 13.9% in the second quarter. Sigma Planning Corp now owns 14,085 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 1,716 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Uniti Group by 11.2% in the second quarter. Envestnet Asset Management Inc. now owns 28,213 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 2,831 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Uniti Group by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 112,606 shares of the real estate investment trust’s stock valued at $1,261,000 after acquiring an additional 3,544 shares during the last quarter. Hedge funds and other institutional investors own 77.26% of the company’s stock.

Shares of Uniti Group stock traded down $0.25 during midday trading on Friday, reaching $8.01. The company had a trading volume of 37,776 shares, compared to its average volume of 1,870,985. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 3.21, a price-to-earnings-growth ratio of 1.30 and a beta of 1.06. The stock has a fifty day simple moving average of $8.12 and a 200 day simple moving average of $9.77. Uniti Group Inc has a 1-year low of $7.05 and a 1-year high of $21.25.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, September 27th. Uniti Group’s dividend payout ratio is currently 7.97%.

UNIT has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 15th. BidaskClub upgraded shares of Uniti Group from a “strong sell” rating to a “sell” rating in a research note on Thursday. Seven investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of “Sell” and a consensus price target of $12.57.

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

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