Nordea Investment Management AB bought a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,669,150 shares of the real estate investment trust's stock, valued at approximately $9,714,000. Nordea Investment Management AB owned 0.70% of Uniti Group as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Balyasny Asset Management L.P. increased its holdings in shares of Uniti Group by 919.7% during the first quarter. Balyasny Asset Management L.P. now owns 3,049,586 shares of the real estate investment trust's stock valued at $10,826,000 after purchasing an additional 2,750,525 shares during the period. Davidson Kempner Capital Management LP acquired a new position in Uniti Group in the second quarter worth approximately $11,433,000. Norges Bank acquired a new position in Uniti Group in the fourth quarter worth approximately $12,061,000. Franklin Resources Inc. raised its stake in shares of Uniti Group by 66.7% in the 1st quarter. Franklin Resources Inc. now owns 4,089,405 shares of the real estate investment trust's stock valued at $14,517,000 after acquiring an additional 1,636,731 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Uniti Group by 625.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,883,190 shares of the real estate investment trust's stock valued at $8,700,000 after purchasing an additional 1,623,614 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.
Uniti Group Stock Down 5.2 %
UNIT stock traded down $0.33 during midday trading on Friday, hitting $6.02. The stock had a trading volume of 1,837,715 shares, compared to its average volume of 1,801,605. Uniti Group Inc. has a 52 week low of $2.94 and a 52 week high of $6.71. The stock has a 50-day simple moving average of $5.67 and a 200 day simple moving average of $5.31.
Uniti Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 9.97%. The ex-dividend date of this dividend is Wednesday, March 27th. Uniti Group's dividend payout ratio is -333.31%.
Analyst Upgrades and Downgrades
Separately, TD Cowen upped their target price on shares of Uniti Group from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Friday, March 1st.
Get Our Latest Research Report on Uniti Group
About Uniti Group
(
Free Report)
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.
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