Uniti Group (NASDAQ:UNIT) Stock Price Down 2.7%

Uniti Group Inc. (NASDAQ:UNIT) shares dropped 2.7% during trading on Monday . The company traded as low as $3.58 and last traded at $3.59. Approximately 99,380 shares changed hands during trading, a decline of 96% from the average daily volume of 2,553,920 shares. The stock had previously closed at $3.69.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded shares of Uniti Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Monday, May 6th.

Uniti Group Stock Down 3.3 %

The company has a market capitalization of $857.73 million, a P/E ratio of 61.51 and a beta of 1.29. The company’s 50-day simple moving average is $3.17 and its 200 day simple moving average is $4.66.

Uniti Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 16.81%. The ex-dividend date was Friday, June 14th. Uniti Group’s dividend payout ratio is 1,000.17%.

Institutional Trading of Uniti Group

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Uniti Group in the fourth quarter worth approximately $31,000. Everhart Financial Group Inc. acquired a new stake in shares of Uniti Group in the second quarter worth $41,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of Uniti Group in the fourth quarter worth $69,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Uniti Group in the first quarter worth $75,000. Finally, Optas LLC acquired a new stake in shares of Uniti Group in the second quarter worth $79,000. 87.51% 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 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.