Paloma Partners Management Co bought a new position in Uniti Group Inc (NASDAQ:UNIT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 525,793 shares of the real estate investment trust’s stock, valued at approximately $9,354,000. Paloma Partners Management Co owned about 0.30% of Uniti Group as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of UNIT. Creative Planning acquired a new position in shares of Uniti Group in the 4th quarter worth $188,000. MML Investors Services LLC acquired a new position in shares of Uniti Group in the 4th quarter worth $223,000. Alps Advisors Inc. acquired a new position in shares of Uniti Group in the 4th quarter worth $229,000. Driehaus Capital Management LLC acquired a new position in shares of Uniti Group in the 4th quarter worth $249,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Uniti Group in the 4th quarter worth $286,000. Institutional investors and hedge funds own 76.53% of the company’s stock.
Several brokerages have recently commented on UNIT. BidaskClub raised Uniti Group from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Cowen set a $26.00 target price on Uniti Group and gave the stock a “buy” rating in a research report on Friday, March 2nd. Finally, ValuEngine cut Uniti Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.57.
Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, March 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.62. The business had revenue of $246.30 million during the quarter, compared to analyst estimates of $246.90 million. The firm’s revenue was up 19.0% compared to the same quarter last year. research analysts expect that Uniti Group Inc will post 2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.40 annualized dividend and a dividend yield of 14.42%. Uniti Group’s dividend payout ratio (DPR) is presently -1,599.89%.
Uniti Group Profile
Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.
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