Quad Cities Investment Group LLC Acquires New Shares in Uniti Group Inc. (NASDAQ:UNIT)

Quad Cities Investment Group LLC bought a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) during the 2nd quarter, HoldingsChannel reports. The firm bought 10,670 shares of the real estate investment trust’s stock, valued at approximately $49,000.

Several other hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can grew its position in shares of Uniti Group by 2.4% during the 1st quarter. Bank of Montreal Can now owns 70,320 shares of the real estate investment trust’s stock valued at $985,000 after purchasing an additional 1,629 shares in the last quarter. Mackenzie Financial Corp increased its stake in Uniti Group by 14.9% in the 1st quarter. Mackenzie Financial Corp now owns 12,966 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 1,681 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Uniti Group by 10.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,148 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 1,758 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Uniti Group by 1.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 206,675 shares of the real estate investment trust’s stock valued at $2,917,000 after acquiring an additional 2,481 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Uniti Group by 81.1% during the fourth quarter. Quadrant Capital Group LLC now owns 5,602 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 2,509 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Performance

NASDAQ:UNIT opened at $5.23 on Tuesday. The business has a 50 day moving average of $5.23 and a 200 day moving average of $4.35. Uniti Group Inc. has a 1-year low of $2.94 and a 1-year high of $8.66.

Uniti Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.15 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.47%. Uniti Group’s payout ratio is -120.00%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $5.00 target price on shares of Uniti Group in a research note on Monday, August 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Uniti Group has an average rating of “Hold” and a consensus price target of $6.61.

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 fiber and other wireless solutions for the communications industry. As of June 30, 2023, Uniti owns approximately 138,000 fiber route miles, 8.3 million fiber strand miles, and other communications real estate throughout the United States.