Envestnet Asset Management Inc. decreased its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,074 shares of the real estate investment trust’s stock after selling 7,640 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Uniti Group were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Uniti Group by 20.4% during the fourth quarter. Bank of Montreal Can now owns 21,306 shares of the real estate investment trust’s stock valued at $378,000 after buying an additional 3,608 shares during the last quarter. American International Group Inc. grew its holdings in shares of Uniti Group by 1.1% during the fourth quarter. American International Group Inc. now owns 341,246 shares of the real estate investment trust’s stock valued at $6,071,000 after buying an additional 3,852 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Uniti Group by 10.0% during the fourth quarter. Advisory Services Network LLC now owns 51,251 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 4,651 shares during the last quarter. Swiss National Bank grew its holdings in shares of Uniti Group by 1.8% during the fourth quarter. Swiss National Bank now owns 283,874 shares of the real estate investment trust’s stock valued at $5,050,000 after buying an additional 5,100 shares during the last quarter. Finally, PVG Asset Management Corp grew its holdings in shares of Uniti Group by 3.4% during the fourth quarter. PVG Asset Management Corp now owns 179,696 shares of the real estate investment trust’s stock valued at $3,197,000 after buying an additional 5,828 shares during the last quarter. Hedge funds and other institutional investors own 76.31% of the company’s stock.

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A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of Uniti Group from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. ValuEngine downgraded shares of Uniti Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Cowen set a $26.00 price objective on shares of Uniti Group and gave the company a “buy” rating in a research report on Friday, March 2nd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.57.

Shares of Uniti Group stock opened at $16.44 on Tuesday. The company has a market cap of $2,837.09, a P/E ratio of 6.55, a P/E/G ratio of 0.87 and a beta of 0.72. Uniti Group Inc. has a twelve month low of $13.81 and a twelve month high of $27.78. The company has a debt-to-equity ratio of -0.05, a quick ratio of 0.03 and a current ratio of 0.03.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.62. The company had revenue of $246.30 million for the quarter, compared to the consensus estimate of $246.90 million. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. research analysts anticipate 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 was paid on Friday, April 13th. Investors of record on Friday, March 30th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a yield of 14.60%. Uniti Group’s dividend payout ratio (DPR) is 95.62%.

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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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Institutional Ownership by Quarter for Uniti Group (NASDAQ:UNIT)

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