Janney Montgomery Scott LLC bought a new position in shares of Uniti Group Inc (NASDAQ:UNIT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 10,837 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Partners Group Inc acquired a new position in shares of Uniti Group during the 3rd quarter valued at about $295,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Uniti Group by 48.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,760 shares of the real estate investment trust’s stock valued at $418,000 after acquiring an additional 6,754 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Uniti Group by 5.4% during the 3rd quarter. Advisory Services Network LLC now owns 61,640 shares of the real estate investment trust’s stock valued at $1,242,000 after acquiring an additional 3,163 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Uniti Group by 31.1% during the 3rd quarter. Wells Fargo & Company MN now owns 359,272 shares of the real estate investment trust’s stock valued at $7,239,000 after acquiring an additional 85,330 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of Uniti Group during the 3rd quarter valued at about $246,000. Institutional investors own 68.16% of the company’s stock.

Shares of NASDAQ:UNIT opened at $19.34 on Thursday. Uniti Group Inc has a 1 year low of $13.94 and a 1 year high of $23.42. The stock has a market cap of $3.57 billion, a PE ratio of 7.71, a PEG ratio of 0.92 and a beta of 0.77.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). Uniti Group had a negative return on equity of 1.33% and a net margin of 1.76%. The firm had revenue of $252.60 million for the quarter, compared to analysts’ expectations of $253.97 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Uniti Group Inc will post 2.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.41%. The ex-dividend date of this dividend is Friday, December 28th. Uniti Group’s payout ratio is currently 95.62%.

A number of research firms have recently commented on UNIT. BidaskClub raised shares of Uniti Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 19th. ValuEngine upgraded Uniti Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Royal Bank of Canada reiterated a “buy” rating and set a $22.00 target price on shares of Uniti Group in a report on Friday, August 17th. Cowen set a $28.00 target price on Uniti Group and gave the stock a “buy” rating in a report on Saturday, August 11th. Finally, Zacks Investment Research cut Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday, November 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $25.80.

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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 wireless infrastructure solutions for the communications industry. As of September 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 850 wireless towers, and other communications real estate throughout the United States and Latin America.

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Institutional Ownership by Quarter for Uniti Group (NASDAQ:UNIT)

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