Public Sector Pension Investment Board Takes $3.56 Million Position in Uniti Group Inc (NASDAQ:UNIT)

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Public Sector Pension Investment Board acquired a new position in Uniti Group Inc (NASDAQ:UNIT) in the fourth quarter, Holdings Channel reports. The fund acquired 433,000 shares of the real estate investment trust’s stock, valued at approximately $3,555,000.

Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. raised its stake in Uniti Group by 2,168.8% in the fourth quarter. Meeder Asset Management Inc. now owns 5,445 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 5,205 shares in the last quarter. Quantbot Technologies LP raised its stake in Uniti Group by 186.9% in the fourth quarter. Quantbot Technologies LP now owns 7,502 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 4,887 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Uniti Group in the third quarter worth approximately $62,000. Beech Hill Advisors Inc. bought a new position in Uniti Group in the fourth quarter worth approximately $82,000. Finally, Sigma Planning Corp bought a new position in Uniti Group in the fourth quarter worth approximately $86,000. 88.12% of the stock is owned by institutional investors.

UNIT stock traded down $0.11 during mid-day trading on Thursday, reaching $6.50. The company’s stock had a trading volume of 3,287,787 shares, compared to its average volume of 3,758,328. The stock has a market cap of $1.21 billion, a PE ratio of 130.00 and a beta of 0.33. Uniti Group Inc has a fifty-two week low of $5.00 and a fifty-two week high of $12.79. The company’s 50 day moving average is $8.35 and its two-hundred day moving average is $7.61.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Thursday, March 12th. The real estate investment trust reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.54). Uniti Group had a net margin of 0.84% and a negative return on equity of 0.60%. The business had revenue of $268.50 million during the quarter, compared to analyst estimates of $273.78 million. During the same quarter in the previous year, the company posted $0.05 EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, research analysts forecast that Uniti Group Inc will post 1.73 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 9.23%. Uniti Group’s dividend payout ratio (DPR) is 42.31%.

A number of equities analysts recently commented on UNIT shares. Raymond James raised shares of Uniti Group from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research note on Monday, March 2nd. Cowen upgraded shares of Uniti Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $11.00 to $13.00 in a research report on Monday, March 2nd. JPMorgan Chase & Co. upgraded shares of Uniti Group to a “hold” rating and set a $8.00 price target for the company in a research report on Friday, March 13th. ValuEngine downgraded shares of Uniti Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 18th. Finally, Zacks Investment Research upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.19.

About Uniti Group

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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