Pacer Advisors Inc. Sells 1,767,738 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Pacer Advisors Inc. lowered its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 52.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,591,153 shares of the real estate investment trust's stock after selling 1,767,738 shares during the quarter. Pacer Advisors Inc. owned 0.67% of Uniti Group worth $9,197,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Natixis Advisors L.P. boosted its holdings in shares of Uniti Group by 31.3% in the 1st quarter. Natixis Advisors L.P. now owns 37,929 shares of the real estate investment trust's stock valued at $522,000 after buying an additional 9,033 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Uniti Group by 2.4% in the 1st quarter. Bank of Montreal Can now owns 70,320 shares of the real estate investment trust's stock valued at $985,000 after buying an additional 1,629 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Uniti Group by 57.9% in the 1st quarter. MetLife Investment Management LLC now owns 101,997 shares of the real estate investment trust's stock valued at $1,403,000 after buying an additional 37,410 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Uniti Group by 0.7% in the 1st quarter. Rhumbline Advisers now owns 644,474 shares of the real estate investment trust's stock valued at $8,868,000 after buying an additional 4,590 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Uniti Group by 1.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 206,675 shares of the real estate investment trust's stock valued at $2,917,000 after buying an additional 2,481 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

Wall Street Analyst Weigh In

UNIT has been the subject of several recent analyst reports. TD Cowen increased their price objective on Uniti Group from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Royal Bank of Canada restated a "sector perform" rating and issued a $5.50 price target on shares of Uniti Group in a research note on Monday.

Uniti Group Stock Performance

Shares of NASDAQ UNIT traded up $0.03 during mid-day trading on Thursday, reaching $5.90. The company had a trading volume of 1,709,252 shares, compared to its average volume of 1,787,101. Uniti Group Inc. has a one year low of $2.94 and a one year high of $6.71. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -32.78 and a beta of 1.41. The business's 50-day simple moving average is $5.70 and its 200 day simple moving average is $5.34.

Uniti Group Dividend Announcement

The firm also recently disclosed 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 10.17%. The ex-dividend date is Wednesday, March 27th. Uniti Group's dividend payout ratio (DPR) is presently -333.31%.

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.