Uniti Group Inc. (NASDAQ:UNIT) Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC increased its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 554.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,174,712 shares of the real estate investment trust's stock after acquiring an additional 995,218 shares during the period. New York Life Investment Management LLC owned about 0.49% of Uniti Group worth $6,790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of UNIT. SG Americas Securities LLC raised its position in Uniti Group by 81.3% during the 3rd quarter. SG Americas Securities LLC now owns 169,876 shares of the real estate investment trust's stock valued at $802,000 after purchasing an additional 76,164 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Uniti Group by 42,622.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 369,125 shares of the real estate investment trust's stock worth $1,742,000 after acquiring an additional 368,261 shares in the last quarter. Commonwealth Equity Services LLC raised 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 acquiring an additional 3,169 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Uniti Group by 14.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,037,174 shares of the real estate investment trust's stock worth $4,895,000 after buying an additional 128,281 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Uniti Group by 7.3% during the 3rd quarter. Mackenzie Financial Corp now owns 44,228 shares of the real estate investment trust's stock worth $197,000 after buying an additional 3,003 shares during the last quarter. 87.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UNIT has been the topic of several research analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $5.50 target price on shares of Uniti Group in a research note on Monday, March 25th. TD Cowen raised their price target on shares of Uniti Group from $9.00 to $10.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st.

Uniti Group Stock Down 26.4 %

Shares of NASDAQ:UNIT traded down $1.59 during trading on Friday, hitting $4.44. 21,001,237 shares of the stock traded hands, compared to its average volume of 2,065,701. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -24.67 and a beta of 1.40. The company has a fifty day moving average price of $5.88 and a two-hundred day moving average price of $5.49. Uniti Group Inc. has a 52-week low of $3.22 and a 52-week high of $6.71.

Uniti Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 13.51%. The ex-dividend date was Wednesday, March 27th. Uniti Group's dividend payout ratio (DPR) is -333.33%.

Uniti Group Profile

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.