Raymond James Financial Services Advisors Inc. decreased its position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 34.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 684,372 shares of the real estate investment trust's stock after selling 352,802 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.29% of Uniti Group worth $3,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in UNIT. Advisors Asset Management Inc. bought a new position in shares of Uniti Group during the 3rd quarter valued at approximately $28,000. Guggenheim Capital LLC bought a new position in shares of Uniti Group during the 1st quarter valued at approximately $41,000. Lazard Asset Management LLC bought a new position in shares of Uniti Group during the 1st quarter valued at approximately $42,000. Sei Investments Co. bought a new position in shares of Uniti Group during the 1st quarter valued at approximately $42,000. Finally, Wetherby Asset Management Inc. bought a new position in shares of Uniti Group during the 1st quarter valued at approximately $43,000. Institutional investors own 87.51% of the company's stock.
Uniti Group Stock Performance
UNIT stock traded down $0.08 during midday trading on Friday, reaching $5.62. The company's stock had a trading volume of 1,367,859 shares, compared to its average volume of 1,426,408. The stock has a fifty day simple moving average of $5.75 and a two-hundred day simple moving average of $5.37. Uniti Group Inc. has a 1 year low of $2.94 and a 1 year high of $6.71. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -31.22 and a beta of 1.40.
Uniti Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a yield of 10.68%. Uniti Group's payout ratio is -333.31%.
Analyst Ratings Changes
Several brokerages have commented on UNIT. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $5.50 price objective on shares of Uniti Group in a research report on Monday, March 25th. TD Cowen increased their target price on Uniti Group from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st.
Read Our Latest Research Report on Uniti Group
Uniti Group Profile
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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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