Separately, Zacks Investment Research cut Uniti Group from a buy rating to a hold rating in a research report on Saturday, July 13th. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Uniti Group presently has an average rating of Sell and an average target price of $14.50.
Shares of NASDAQ UNIT traded down $0.02 during mid-day trading on Wednesday, hitting $8.25. The company had a trading volume of 2,959,429 shares, compared to its average volume of 2,473,551. The firm has a market cap of $1.55 billion, a PE ratio of 3.29, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. Uniti Group has a 12 month low of $7.84 and a 12 month high of $21.33. The firm’s 50 day simple moving average is $9.36.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.42%. The ex-dividend date was Thursday, June 27th. Uniti Group’s dividend payout ratio is currently 7.97%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Rocky Mountain Advisers LLC increased its position in Uniti Group by 1,566.7% in the 1st quarter. Rocky Mountain Advisers LLC now owns 7,500 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 7,050 shares during the period. Wright Investors Service Inc. acquired a new position in shares of Uniti Group during the 1st quarter valued at $378,000. Norges Bank acquired a new position in shares of Uniti Group during the 4th quarter valued at $23,467,000. Quinn Opportunity Partners LLC acquired a new position in shares of Uniti Group during the 1st quarter valued at $1,410,000. Finally, Symons Capital Management Inc. acquired a new position in shares of Uniti Group during the 1st quarter valued at $127,000. Hedge funds and other institutional investors own 79.13% of the company’s stock.
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 wireless infrastructure solutions for the communications industry. As of December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
Further Reading: Why do corrections happen?
Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.