Separately, Zacks Investment Research cut Uniti Group from a hold rating to a strong sell rating in a research note on Thursday, August 15th. Seven investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has a consensus rating of Sell and a consensus price target of $12.57.
NASDAQ UNIT traded down $0.19 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. Uniti Group has a 52-week low of $7.05 and a 52-week high of $21.25. The company’s 50-day simple moving average is $8.12 and its 200 day simple moving average is $9.77. The firm has a market cap of $1.51 billion, a P/E ratio of 3.22, a PEG ratio of 1.30 and a beta of 1.06.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, September 27th. Uniti Group’s dividend payout ratio (DPR) is presently 7.97%.
Hedge funds have recently bought and sold shares of the stock. Griffin Asset Management Inc. bought a new position in Uniti Group during the 2nd quarter valued at approximately $28,000. Atria Investments LLC bought a new position in Uniti Group during the 2nd quarter valued at approximately $341,000. Mcmillion Capital Management Inc. bought a new position in Uniti Group during the 2nd quarter valued at approximately $73,000. Ford Financial Group Inc. bought a new position in Uniti Group during the 2nd quarter valued at approximately $103,000. Finally, Sigma Planning Corp increased its position in Uniti Group by 13.9% during the 2nd quarter. Sigma Planning Corp now owns 14,085 shares of the real estate investment trust’s stock valued at $134,000 after buying an additional 1,716 shares in the last quarter. 77.26% of the stock is owned by institutional investors.
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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