Legal & General Group Plc raised its holdings in shares of Uniti Group Inc (NASDAQ:UNIT) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 447,987 shares of the real estate investment trust’s stock after purchasing an additional 15,398 shares during the quarter. Legal & General Group Plc’s holdings in Uniti Group were worth $8,974,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in UNIT. Canada Pension Plan Investment Board boosted its holdings in shares of Uniti Group by 39,066.7% in the second quarter. Canada Pension Plan Investment Board now owns 4,700,000 shares of the real estate investment trust’s stock valued at $94,141,000 after purchasing an additional 4,688,000 shares during the period. Sylebra HK Co Ltd purchased a new stake in shares of Uniti Group in the first quarter valued at approximately $36,331,000. Barclays PLC boosted its holdings in shares of Uniti Group by 128.5% in the first quarter. Barclays PLC now owns 2,789,454 shares of the real estate investment trust’s stock valued at $45,329,000 after purchasing an additional 1,568,732 shares during the period. Mackay Shields LLC purchased a new stake in shares of Uniti Group in the second quarter valued at approximately $12,237,000. Finally, Millennium Management LLC boosted its holdings in shares of Uniti Group by 960.8% in the first quarter. Millennium Management LLC now owns 458,165 shares of the real estate investment trust’s stock valued at $7,445,000 after purchasing an additional 414,973 shares during the period. Institutional investors and hedge funds own 71.36% of the company’s stock.

UNIT has been the subject of a number of analyst reports. BidaskClub upgraded Uniti Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 24th. Cowen set a $28.00 target price on Uniti Group and gave the stock a “buy” rating in a report on Saturday, August 11th. ValuEngine lowered Uniti Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 27th. Citigroup lowered Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 target price for the company. in a report on Wednesday, July 18th. Finally, Royal Bank of Canada restated a “buy” rating and set a $22.00 target price on shares of Uniti Group in a report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $25.80.

Shares of UNIT stock opened at $20.34 on Friday. The firm has a market cap of $3.59 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 0.94 and a beta of 0.77. The company has a debt-to-equity ratio of -0.04, a quick ratio of 0.04 and a current ratio of 0.04. Uniti Group Inc has a 12-month low of $13.81 and a 12-month high of $23.42.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.65). The business had revenue of $247.30 million for the quarter, compared to analyst estimates of $250.07 million. Uniti Group had a negative return on equity of 1.45% and a net margin of 1.83%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. analysts predict that Uniti Group Inc will post 2.48 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 11.80%. The ex-dividend date is Thursday, September 27th. Uniti Group’s payout ratio is presently 95.62%.

Uniti Group Company 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 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.

Further Reading: Earnings Per Share

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

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