Uniti Group Inc. (NASDAQ:UNIT) Stock Position Lowered by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC decreased its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,250 shares of the real estate investment trust’s stock after selling 7,423 shares during the quarter. Concurrent Investment Advisors LLC owned 0.05% of Uniti Group worth $721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in Uniti Group during the first quarter valued at $407,000. LSV Asset Management increased its holdings in shares of Uniti Group by 1.3% in the 1st quarter. LSV Asset Management now owns 7,276,879 shares of the real estate investment trust’s stock valued at $42,934,000 after purchasing an additional 91,408 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Uniti Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 208,133 shares of the real estate investment trust’s stock worth $1,228,000 after purchasing an additional 2,938 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Uniti Group by 7.2% during the first quarter. Daiwa Securities Group Inc. now owns 75,441 shares of the real estate investment trust’s stock worth $445,000 after purchasing an additional 5,062 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Uniti Group by 18.7% during the first quarter. BNP Paribas Financial Markets now owns 126,095 shares of the real estate investment trust’s stock valued at $744,000 after purchasing an additional 19,830 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UNIT. Royal Bank of Canada reiterated a “sector perform” rating and issued a $5.50 target price on shares of Uniti Group in a research report on Monday, March 25th. Raymond James downgraded Uniti Group from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $8.00 to $6.00 in a research note on Monday, May 6th.

Uniti Group Stock Up 7.7 %

Shares of NASDAQ:UNIT traded up $0.27 during trading on Monday, reaching $3.76. The stock had a trading volume of 3,896,927 shares, compared to its average volume of 2,556,901. The stock has a fifty day simple moving average of $3.19 and a two-hundred day simple moving average of $4.81. The firm has a market capitalization of $903.38 million, a price-to-earnings ratio of 58.18 and a beta of 1.29. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71.

Uniti Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 15.96%. The ex-dividend date of this dividend was Friday, June 14th. Uniti Group’s dividend payout ratio is 1,000.17%.

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.