Beech Hill Advisors Inc. acquired a new stake in Uniti Group Inc (NASDAQ:UNIT) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 10,000 shares of the real estate investment trust’s stock, valued at approximately $82,000.
A number of other large investors have also added to or reduced their stakes in UNIT. BlackRock Inc. raised its stake in Uniti Group by 32.9% in the second quarter. BlackRock Inc. now owns 21,726,815 shares of the real estate investment trust’s stock valued at $206,406,000 after buying an additional 5,384,528 shares during the period. Zimmer Partners LP bought a new stake in Uniti Group in the second quarter valued at approximately $12,392,000. Nuveen Asset Management LLC bought a new stake in Uniti Group in the second quarter valued at approximately $11,006,000. Pacer Advisors Inc. raised its stake in Uniti Group by 224.6% in the third quarter. Pacer Advisors Inc. now owns 729,157 shares of the real estate investment trust’s stock valued at $5,662,000 after buying an additional 504,498 shares during the period. Finally, Mackay Shields LLC bought a new stake in Uniti Group in the third quarter valued at approximately $3,185,000. Hedge funds and other institutional investors own 81.65% of the company’s stock.
Shares of Uniti Group stock traded down $0.25 on Friday, hitting $7.68. The stock had a trading volume of 49,975 shares, compared to its average volume of 2,000,939. Uniti Group Inc has a twelve month low of $5.24 and a twelve month high of $20.14. The business’s 50 day moving average is $7.72 and its two-hundred day moving average is $7.82. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 3.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10.
Uniti Group (NASDAQ:UNIT) last posted its earnings results on Thursday, November 7th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.44 by ($0.54). Uniti Group had a net margin of 3.06% and a negative return on equity of 2.17%. The firm had revenue of $263.63 million during the quarter, compared to analyst estimates of $270.14 million. On average, equities research analysts expect that Uniti Group Inc will post 2.04 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.22 dividend. This is an increase from Uniti Group’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, December 30th. This represents a $0.88 annualized dividend and a dividend yield of 11.46%. Uniti Group’s dividend payout ratio is presently 35.06%.
Several analysts have issued reports on the company. BidaskClub upgraded Uniti Group from a “hold” rating to a “buy” rating in a research note on Wednesday, December 18th. Zacks Investment Research upgraded Uniti Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Finally, ValuEngine upgraded Uniti Group from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $11.96.
Uniti Group 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.
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