Teachers Insurance & Annuity Association of America grew its stake in shares of Uniti Group Inc (NASDAQ:UNIT) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,231 shares of the real estate investment trust’s stock after purchasing an additional 17,199 shares during the quarter. Teachers Insurance & Annuity Association of America owned 0.10% of Uniti Group worth $3,242,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new position in shares of Uniti Group in the third quarter worth about $316,000. Gamco Investors INC. ET AL lifted its stake in shares of Uniti Group by 636.3% in the third quarter. Gamco Investors INC. ET AL now owns 67,000 shares of the real estate investment trust’s stock worth $982,000 after acquiring an additional 57,900 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of Uniti Group by 188.9% in the third quarter. Gabelli Funds LLC now owns 156,000 shares of the real estate investment trust’s stock worth $2,287,000 after acquiring an additional 102,000 shares in the last quarter. Messner & Smith Theme Value Investment Management Ltd. CA acquired a new position in shares of Uniti Group in the third quarter worth about $757,000. Finally, PVG Asset Management Corp lifted its stake in shares of Uniti Group by 31.5% in the third quarter. PVG Asset Management Corp now owns 173,868 shares of the real estate investment trust’s stock worth $2,549,000 after acquiring an additional 41,666 shares in the last quarter. Institutional investors own 76.53% of the company’s stock.
Several research firms recently commented on UNIT. BidaskClub upgraded Uniti Group from a “strong sell” rating to a “sell” rating in a research note on Thursday. Cowen set a $26.00 price objective on Uniti Group and gave the company a “buy” rating in a report on Friday, March 2nd. Finally, ValuEngine lowered Uniti Group from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $25.57.
Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.62. The company had revenue of $246.30 million for the quarter, compared to analyst estimates of $246.90 million. The company’s revenue was up 19.0% on a year-over-year basis. sell-side analysts forecast that Uniti Group Inc will post 2.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis 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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