Uniti Group (NASDAQ:UNIT) Sees Large Volume Increase

Uniti Group Inc. (NASDAQ:UNIT) shares saw strong trading volume on Friday . 136,008 shares traded hands during mid-day trading, a decline of 89% from the previous session’s volume of 1,251,082 shares.The stock last traded at $12.42 and had previously closed at $12.60.

Separately, Zacks Investment Research cut shares of Uniti Group from a “buy” rating to a “hold” rating in a research report on Friday, January 7th.

The stock’s 50-day moving average is $13.40 and its 200-day moving average is $12.73. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 83.21 and a beta of 0.99.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Thursday, November 4th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.18). Uniti Group had a net margin of 3.74% and a negative return on equity of 1.91%. The firm had revenue of $266.75 million during the quarter, compared to the consensus estimate of $271.41 million. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts anticipate that Uniti Group Inc. will post 1.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Friday, December 17th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.78%. Uniti Group’s dividend payout ratio is currently 400.03%.

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its position in Uniti Group by 30,064.7% during the second quarter. Franklin Resources Inc. now owns 3,655,357 shares of the real estate investment trust’s stock valued at $38,710,000 after buying an additional 3,643,239 shares during the period. LSV Asset Management boosted its position in Uniti Group by 921.2% during the third quarter. LSV Asset Management now owns 3,391,370 shares of the real estate investment trust’s stock worth $41,951,000 after purchasing an additional 3,059,270 shares during the period. Bracebridge Capital LLC bought a new position in Uniti Group during the second quarter worth about $17,540,000. FMR LLC boosted its position in Uniti Group by 31.7% during the second quarter. FMR LLC now owns 4,913,772 shares of the real estate investment trust’s stock worth $52,036,000 after purchasing an additional 1,183,148 shares during the period. Finally, Federated Hermes Inc. boosted its position in Uniti Group by 78.8% during the second quarter. Federated Hermes Inc. now owns 2,410,520 shares of the real estate investment trust’s stock worth $25,528,000 after purchasing an additional 1,062,275 shares during the period. Institutional investors own 82.13% of the company’s stock.

Uniti Group Company Profile (NASDAQ:UNIT)

Uniti Group, Inc is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis.

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