Shares of Uniti Group Inc. (NASDAQ:UNIT) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $11.25.
A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 5th. Morgan Stanley lifted their target price on shares of Uniti Group from $6.00 to $9.50 and gave the company an “underweight” rating in a research note on Monday, May 3rd.
Shares of Uniti Group stock traded down $0.08 on Friday, hitting $10.91. 16,004 shares of the company traded hands, compared to its average volume of 1,951,820. The company’s 50-day simple moving average is $10.89. The company has a market capitalization of $2.55 billion, a P/E ratio of -3.38 and a beta of 0.88. Uniti Group has a 12-month low of $8.07 and a 12-month high of $13.40.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 2nd. Investors of record on Friday, June 18th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, June 17th. This represents a $0.60 dividend on an annualized basis and a yield of 5.50%. Uniti Group’s dividend payout ratio (DPR) is currently 34.88%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Veriti Management LLC purchased a new position in Uniti Group in the fourth quarter worth about $77,000. Mcmillion Capital Management Inc. purchased a new position in Uniti Group in the fourth quarter worth about $89,000. Quantbot Technologies LP purchased a new position in Uniti Group in the first quarter worth about $88,000. Eaton Vance Management purchased a new position in Uniti Group in the first quarter worth about $96,000. Finally, Aaron Wealth Advisors purchased a new position in Uniti Group in the fourth quarter worth about $117,000. 78.19% of the stock is owned by institutional investors.
About Uniti Group
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, 2020, Uniti owns 6.7 million fiber strand miles and other communications real estate throughout the United States.
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