10,670 Shares in Uniti Group Inc. (NASDAQ:UNIT) Purchased by Quad Cities Investment Group LLC

Quad Cities Investment Group LLC bought a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,670 shares of the real estate investment trust’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors L.P. increased its stake in Uniti Group by 31.3% in the first quarter. Natixis Advisors L.P. now owns 37,929 shares of the real estate investment trust’s stock valued at $522,000 after acquiring an additional 9,033 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Uniti Group by 2.4% during the 1st quarter. Bank of Montreal Can now owns 70,320 shares of the real estate investment trust’s stock worth $985,000 after buying an additional 1,629 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Uniti Group by 57.9% in the first quarter. MetLife Investment Management LLC now owns 101,997 shares of the real estate investment trust’s stock valued at $1,403,000 after buying an additional 37,410 shares in the last quarter. Rhumbline Advisers grew its position in Uniti Group by 0.7% in the first quarter. Rhumbline Advisers now owns 644,474 shares of the real estate investment trust’s stock valued at $8,868,000 after acquiring an additional 4,590 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in Uniti Group by 1.2% during the first quarter. Great West Life Assurance Co. Can now owns 206,675 shares of the real estate investment trust’s stock worth $2,917,000 after acquiring an additional 2,481 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 price target on shares of Uniti Group in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.61.

Uniti Group Price Performance

Shares of UNIT stock opened at $5.23 on Tuesday. The stock has a 50-day moving average of $5.23 and a 200-day moving average of $4.35. Uniti Group Inc. has a 1-year low of $2.94 and a 1-year high of $8.66.

Uniti Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a $0.15 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.47%. Uniti Group’s dividend payout ratio (DPR) is currently -120.00%.

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 fiber and other wireless solutions for the communications industry. As of June 30, 2023, Uniti owns approximately 138,000 fiber route miles, 8.3 million fiber strand miles, and other communications real estate throughout the United States.