Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by Sage Rhino Capital LLC

Sage Rhino Capital LLC trimmed its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,298 shares of the real estate investment trust’s stock after selling 2,777 shares during the quarter. Sage Rhino Capital LLC’s holdings in Uniti Group were worth $83,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UNIT. GAMMA Investing LLC acquired a new position in Uniti Group in the fourth quarter valued at about $31,000. KPP Advisory Services LLC purchased a new stake in Uniti Group during the third quarter worth about $48,000. Park Avenue Securities LLC purchased a new stake in Uniti Group during the third quarter worth about $59,000. Regent Peak Wealth Advisors LLC purchased a new stake in Uniti Group during the fourth quarter worth about $69,000. Finally, Commonwealth Equity Services LLC increased its stake in Uniti Group by 21.9% during the third quarter. Commonwealth Equity Services LLC now owns 17,644 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 3,169 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Trading Down 0.5 %

Uniti Group stock traded down $0.03 during midday trading on Wednesday, reaching $5.72. 166,625 shares of the company were exchanged, compared to its average volume of 1,820,687. The firm’s 50-day simple moving average is $5.89 and its 200-day simple moving average is $5.49. Uniti Group Inc. has a 1 year low of $3.06 and a 1 year high of $6.71.

Uniti Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a dividend yield of 10.49%. Uniti Group’s payout ratio is currently -333.31%.

Analysts Set New Price Targets

A number of analysts have issued reports on UNIT shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a research note on Monday, March 25th. TD Cowen upped their target price on shares of Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

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 fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.