Uniti Group Inc. (NASDAQ:UNIT) Stake Boosted by Diversified Trust Co

Diversified Trust Co increased its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 66.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 72,155 shares of the real estate investment trust’s stock after buying an additional 28,697 shares during the quarter. Diversified Trust Co’s holdings in Uniti Group were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of UNIT. GAMMA Investing LLC purchased a new stake in shares of Uniti Group during the 4th quarter worth about $31,000. Regent Peak Wealth Advisors LLC bought a new position in Uniti Group during the fourth quarter valued at approximately $69,000. Kingswood Wealth Advisors LLC acquired a new stake in Uniti Group in the fourth quarter valued at approximately $85,000. Advisor Resource Council bought a new stake in Uniti Group in the fourth quarter worth approximately $103,000. Finally, Cerity Partners LLC acquired a new position in shares of Uniti Group during the 4th quarter worth $265,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Trading Up 1.4 %

NASDAQ:UNIT opened at $2.80 on Friday. The firm has a market capitalization of $672.72 million, a PE ratio of 46.67 and a beta of 1.29. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The firm’s fifty day simple moving average is $3.49 and its 200 day simple moving average is $4.92.

Uniti Group Dividend Announcement

The firm 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 21.43%. The ex-dividend date was Friday, June 14th. Uniti Group’s dividend payout ratio is currently 1,000.00%.

Wall Street Analyst Weigh In

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

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.