LSV Asset Management Sells 198,145 Shares of Uniti Group Inc. (NASDAQ:UNIT)

LSV Asset Management cut its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,185,471 shares of the real estate investment trust's stock after selling 198,145 shares during the quarter. LSV Asset Management owned approximately 3.01% of Uniti Group worth $41,532,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Commonwealth Equity Services LLC increased its holdings in Uniti Group by 21.9% during the third quarter. Commonwealth Equity Services LLC now owns 17,644 shares of the real estate investment trust's stock valued at $83,000 after buying an additional 3,169 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Uniti Group by 14.1% during the third 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 period. Mackenzie Financial Corp lifted its stake in shares of Uniti Group by 7.3% during the third 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 period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Uniti Group by 10.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,085,187 shares of the real estate investment trust's stock worth $9,842,000 after buying an additional 201,997 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in shares of Uniti Group during the third quarter worth $59,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Price Performance

UNIT traded down $0.64 on Monday, reaching $3.80. 12,812,103 shares of the company's stock were exchanged, compared to its average volume of 2,189,996. The stock has a market cap of $912.87 million, a PE ratio of 63.34 and a beta of 1.40. Uniti Group Inc. has a twelve month low of $3.39 and a twelve month high of $6.71. The stock's fifty day moving average price is $5.84 and its 200-day moving average price is $5.50.

Uniti Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 15.79%. Uniti Group's payout ratio is 1,000.17%.

Analyst Ratings Changes

A number of research firms have weighed in on UNIT. Raymond James cut shares of Uniti Group from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $8.00 to $6.00 in a report on Monday. Royal Bank of Canada reissued a "sector perform" rating and set a $5.50 target price on shares of Uniti Group in a research note on Monday, March 25th. Finally, TD Cowen boosted their target price on shares of Uniti Group from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st.

Uniti Group Company 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.