Flinton Capital Management LLC decreased its position in shares of Uniti Group Inc (NASDAQ:UNIT) by 56.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,192 shares of the real estate investment trust’s stock after selling 40,740 shares during the quarter. Flinton Capital Management LLC’s holdings in Uniti Group were worth $296,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of UNIT. Charles Schwab Investment Management Inc. lifted its position in shares of Uniti Group by 33.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,214,739 shares of the real estate investment trust’s stock valued at $21,041,000 after acquiring an additional 552,805 shares during the period. Litespeed Management L.L.C. acquired a new stake in shares of Uniti Group during the 1st quarter valued at approximately $5,991,000. Thompson Siegel & Walmsley LLC lifted its position in shares of Uniti Group by 14.9% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 2,814,499 shares of the real estate investment trust’s stock valued at $31,494,000 after acquiring an additional 365,292 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Uniti Group by 146.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 541,104 shares of the real estate investment trust’s stock valued at $5,243,000 after acquiring an additional 321,120 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Uniti Group by 14.7% during the 4th quarter. Geode Capital Management LLC now owns 1,927,806 shares of the real estate investment trust’s stock valued at $30,015,000 after acquiring an additional 247,076 shares during the period. 77.27% of the stock is currently owned by institutional investors.
Shares of NASDAQ UNIT opened at $7.76 on Friday. Uniti Group Inc has a 52-week low of $7.05 and a 52-week high of $20.63. The firm has a fifty day moving average of $7.98 and a 200-day moving average of $9.67. The stock has a market capitalization of $1.49 billion, a PE ratio of 3.21, a P/E/G ratio of 1.28 and a beta of 1.06.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, September 27th. This represents a $0.20 annualized dividend and a dividend yield of 2.58%. Uniti Group’s dividend payout ratio is presently 7.97%.
UNIT has been the subject of a number of research reports. BidaskClub upgraded shares of Uniti Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. Zacks Investment Research downgraded Uniti Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 15th. Seven equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has an average rating of “Sell” and a consensus target price of $12.57.
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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
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