Financial & Investment Management Group Ltd. lowered its position in shares of Uniti Group Inc (NASDAQ:UNIT) by 2.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 310,648 shares of the real estate investment trust’s stock after selling 6,837 shares during the quarter. Uniti Group comprises about 2.1% of Financial & Investment Management Group Ltd.’s portfolio, making the stock its 13th largest position. Financial & Investment Management Group Ltd. owned about 0.18% of Uniti Group worth $6,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of UNIT. Oakbrook Investments LLC acquired a new position in shares of Uniti Group in the 3rd quarter valued at about $217,000. Louisiana State Employees Retirement System lifted its holdings in shares of Uniti Group by 7.8% in the 3rd quarter. Louisiana State Employees Retirement System now owns 48,100 shares of the real estate investment trust’s stock valued at $969,000 after buying an additional 3,500 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Uniti Group by 33.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 86,300 shares of the real estate investment trust’s stock valued at $1,739,000 after buying an additional 21,800 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Uniti Group by 1.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 797,000 shares of the real estate investment trust’s stock valued at $16,060,000 after buying an additional 15,000 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Uniti Group by 42.2% in the 3rd quarter. Bank of Montreal Can now owns 27,752 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 8,229 shares during the period. 71.33% of the stock is owned by institutional investors.

Shares of Uniti Group stock traded down $0.14 on Thursday, hitting $20.00. The company’s stock had a trading volume of 70,523 shares, compared to its average volume of 2,087,279. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of -0.04. Uniti Group Inc has a 1 year low of $13.94 and a 1 year high of $23.42. The firm has a market cap of $3.54 billion, a PE ratio of 8.10, a P/E/G ratio of 0.93 and a beta of 0.77.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.65). Uniti Group had a net margin of 1.83% and a negative return on equity of 1.45%. The business had revenue of $247.30 million during the quarter, compared to analysts’ expectations of $250.07 million. During the same quarter in the prior year, the firm earned $0.60 EPS. Uniti Group’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, sell-side analysts expect that Uniti Group Inc will post 2.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 12.00%. Uniti Group’s dividend payout ratio is presently 95.62%.

UNIT has been the subject of several analyst reports. BidaskClub raised Uniti Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 24th. Cowen set a $28.00 price objective on Uniti Group and gave the company 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 research note on Wednesday, June 27th. Citigroup lowered Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price target for the company. in a research note on Wednesday, July 18th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $22.00 price target on shares of Uniti Group in a research note on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.80.

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.

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

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