LSV Asset Management Trims Holdings in Uniti Group Inc. (NASDAQ:UNIT)

LSV Asset Management lowered its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 2.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,185,471 shares of the real estate investment trust’s stock after selling 198,145 shares during the quarter. LSV Asset Management owned approximately 3.01% of Uniti Group worth $41,532,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Uniti Group during the 4th quarter valued at approximately $31,000. KPP Advisory Services LLC bought a new position in Uniti Group in the third quarter worth $48,000. Park Avenue Securities LLC purchased a new position in Uniti Group during the third quarter valued at $59,000. Regent Peak Wealth Advisors LLC bought a new stake in shares of Uniti Group during the 4th quarter valued at $69,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Uniti Group by 21.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,644 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 3,169 shares during the period. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Stock Performance

Shares of Uniti Group stock opened at $4.47 on Monday. The company has a 50-day simple moving average of $5.88 and a two-hundred day simple moving average of $5.51. The stock has a market capitalization of $1.07 billion, a PE ratio of 74.01 and a beta of 1.40. Uniti Group Inc. has a 52-week low of $3.39 and a 52-week high of $6.71.

Uniti Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.42%. The ex-dividend date is Friday, June 14th. Uniti Group’s payout ratio is 1,000.17%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UNIT. TD Cowen lifted their price target on shares of Uniti Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.50 price target on shares of Uniti Group in a research report on Monday, March 25th. Finally, Raymond James lowered Uniti Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $8.00 to $6.00 in a research report on Monday.

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.