Panagora Asset Management Inc. Takes $2.77 Million Position in Uniti Group Inc. (NASDAQ:UNIT)

Panagora Asset Management Inc. acquired a new position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 478,531 shares of the real estate investment trust's stock, valued at approximately $2,766,000. Panagora Asset Management Inc. owned approximately 0.20% of Uniti Group at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Uniti Group by 0.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 310,740 shares of the real estate investment trust's stock valued at $1,796,000 after purchasing an additional 2,200 shares in the last quarter. Commonwealth Equity Services LLC raised its stake 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 valued at $83,000 after purchasing an additional 3,169 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Uniti Group by 2.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 181,171 shares of the real estate investment trust's stock valued at $855,000 after buying an additional 3,715 shares during the last quarter. Swiss National Bank grew its position in shares of Uniti Group by 1.0% during the 3rd quarter. Swiss National Bank now owns 524,474 shares of the real estate investment trust's stock valued at $2,476,000 after buying an additional 5,000 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its position in shares of Uniti Group by 5.4% during the 4th quarter. Apollon Wealth Management LLC now owns 102,948 shares of the real estate investment trust's stock valued at $595,000 after buying an additional 5,251 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

Uniti Group Stock Down 0.8 %

NASDAQ UNIT traded down $0.03 on Monday, hitting $3.62. The stock had a trading volume of 1,740,518 shares, compared to its average volume of 2,332,563. Uniti Group Inc. has a one year low of $3.39 and a one year high of $6.71. The stock has a market cap of $869.74 million, a price-to-earnings ratio of 60.34 and a beta of 1.40. The company's 50-day moving average is $5.35 and its two-hundred day moving average is $5.46.

Uniti Group Dividend Announcement

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 given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 16.57%. The ex-dividend date is Friday, June 14th. Uniti Group's dividend payout ratio (DPR) is 1,000.17%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on UNIT shares. TD Cowen boosted their price objective on shares of Uniti Group from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Raymond James downgraded shares of Uniti Group from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Monday, May 6th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $5.50 target price on shares of Uniti Group in a research report on Monday, March 25th.

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.