Sterling Capital Management LLC reduced its stake in shares of Uniti Group Inc (NASDAQ:UNIT) by 33.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 50,000 shares of the real estate investment trust’s stock after selling 25,000 shares during the period. Sterling Capital Management LLC’s holdings in Uniti Group were worth $1,007,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Angelo Gordon & CO. L.P. purchased a new position in Uniti Group in the 2nd quarter worth $34,003,000. Cornerstone Wealth Management LLC purchased a new position in Uniti Group in the 2nd quarter worth $629,000. First Trust Advisors LP purchased a new position in Uniti Group in the 2nd quarter worth $425,000. Mackay Shields LLC purchased a new position in Uniti Group in the 2nd quarter worth $12,237,000. Finally, Toscafund Asset Management LLP purchased a new position in Uniti Group in the 2nd quarter worth $45,068,000. 71.05% of the stock is owned by institutional investors.
A number of equities analysts recently commented on the stock. BidaskClub upgraded shares of Uniti Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 19th. ValuEngine upgraded shares of Uniti Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Zacks Investment Research cut shares of Uniti Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $22.00 target price on shares of Uniti Group in a research report on Friday, August 17th. Finally, Citigroup cut shares of Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 target price on the stock. in a research report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $25.80.
Shares of NASDAQ:UNIT opened at $19.76 on Friday. The firm has a market capitalization of $3.65 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.76. Uniti Group Inc has a 52 week low of $13.94 and a 52 week high of $23.42.
Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Uniti Group had a net margin of 1.76% and a negative return on equity of 1.33%. The firm had revenue of $252.60 million during the quarter, compared to analysts’ expectations of $253.97 million. During the same quarter in the previous year, the firm posted $0.55 EPS. Uniti Group’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Uniti Group Inc will post 2.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.15%. The ex-dividend date is Friday, December 28th. Uniti Group’s payout ratio is 95.62%.
About Uniti Group
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 June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.
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