Vanguard Group Inc. Reduces Position in Uniti Group Inc. (NASDAQ:UNIT)

Vanguard Group Inc. reduced its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,899,684 shares of the real estate investment trust’s stock after selling 31,167 shares during the period. Vanguard Group Inc. owned about 15.87% of Uniti Group worth $219,060,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Nomura Holdings Inc. boosted its stake in shares of Uniti Group by 94.1% during the fourth quarter. Nomura Holdings Inc. now owns 588,078 shares of the real estate investment trust’s stock valued at $3,399,000 after purchasing an additional 285,112 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Uniti Group by 1.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 270,300 shares of the real estate investment trust’s stock valued at $1,562,000 after buying an additional 4,200 shares during the period. Aigen Investment Management LP purchased a new stake in Uniti Group in the 4th quarter valued at about $586,000. Norges Bank bought a new position in Uniti Group in the 4th quarter worth about $9,139,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of Uniti Group during the fourth quarter worth approximately $2,766,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on UNIT shares. Raymond James cut Uniti Group from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $8.00 to $6.00 in a research note on Monday, May 6th. Royal Bank of Canada restated a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a research note on Monday, March 25th.

Uniti Group Stock Down 6.2 %

Shares of UNIT stock opened at $2.74 on Tuesday. The firm has a market cap of $658.31 million, a price-to-earnings ratio of 45.67 and a beta of 1.29. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.71. The company’s 50 day moving average is $3.66 and its 200 day moving average is $4.97.

Uniti Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 21.90%. The ex-dividend date of this dividend was Friday, June 14th. Uniti Group’s payout ratio is 1,000.17%.

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 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.