Foster & Motley Inc. Sells 10,157 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Foster & Motley Inc. cut its position in Uniti Group Inc. (NASDAQ:UNIT) by 46.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,916 shares of the real estate investment trust’s stock after selling 10,157 shares during the period. Foster & Motley Inc.’s holdings in Uniti Group were worth $69,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of UNIT. Nordea Investment Management AB bought a new position in Uniti Group in the fourth quarter valued at about $9,714,000. Federated Hermes Inc. raised its position in Uniti Group by 226.7% in the third quarter. Federated Hermes Inc. now owns 1,555,458 shares of the real estate investment trust’s stock valued at $7,342,000 after purchasing an additional 1,079,300 shares during the last quarter. DigitalBridge Group Inc. increased its stake in shares of Uniti Group by 55.1% in the third quarter. DigitalBridge Group Inc. now owns 1,676,326 shares of the real estate investment trust’s stock valued at $7,912,000 after buying an additional 595,864 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Uniti Group by 538.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 685,874 shares of the real estate investment trust’s stock valued at $3,978,000 after buying an additional 578,371 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Uniti Group by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,443,763 shares of the real estate investment trust’s stock valued at $30,415,000 after buying an additional 545,205 shares during the period. 87.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price target on Uniti Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.50 price target on shares of Uniti Group in a research note on Monday, March 25th.

Uniti Group Stock Down 2.0 %

NASDAQ UNIT opened at $5.60 on Friday. The business has a 50 day simple moving average of $5.86 and a 200 day simple moving average of $5.46. Uniti Group Inc. has a one year low of $2.94 and a one year high of $6.71.

Uniti Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a yield of 10.72%. Uniti Group’s dividend payout ratio is currently -333.31%.

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 fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.