Gamco Investors INC. ET AL cut its stake in shares of Uniti Group Inc (NASDAQ:UNIT) by 9.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 29,100 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Uniti Group were worth $583,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its holdings in Uniti Group by 39,066.7% in the second quarter. Canada Pension Plan Investment Board now owns 4,700,000 shares of the real estate investment trust’s stock valued at $94,141,000 after purchasing an additional 4,688,000 shares in the last quarter. Sylebra HK Co Ltd acquired a new position in Uniti Group in the first quarter valued at approximately $36,331,000. Barclays PLC boosted its holdings in Uniti Group by 128.5% in the first quarter. Barclays PLC now owns 2,789,454 shares of the real estate investment trust’s stock valued at $45,329,000 after purchasing an additional 1,568,732 shares in the last quarter. Mackay Shields LLC acquired a new position in Uniti Group in the second quarter valued at approximately $12,237,000. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Uniti Group by 8.1% in the first quarter. Thompson Siegel & Walmsley LLC now owns 5,709,197 shares of the real estate investment trust’s stock valued at $92,775,000 after purchasing an additional 425,815 shares in the last quarter. 69.61% of the stock is owned by institutional investors and hedge funds.
Shares of UNIT opened at $19.53 on Friday. The company has a debt-to-equity ratio of -0.04, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $3.46 billion, a P/E ratio of 7.84, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. Uniti Group Inc has a 52-week low of $13.81 and a 52-week high of $23.42.
Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.65). The business had revenue of $247.30 million during the quarter, compared to analyst estimates of $250.07 million. Uniti Group had a net margin of 1.83% and a negative return on equity of 1.45%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. sell-side analysts predict that Uniti Group Inc will post 2.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 12.29%. The ex-dividend date of this dividend is Thursday, September 27th. Uniti Group’s dividend payout ratio is currently 95.62%.
A number of brokerages recently issued reports on UNIT. Morgan Stanley downgraded Uniti Group from an “overweight” rating to an “equal weight” rating and set a $24.00 price target for the company. in a report on Thursday, June 14th. BidaskClub downgraded Uniti Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th. Citigroup downgraded Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price target for the company. in a report on Wednesday, July 18th. Zacks Investment Research downgraded Uniti Group from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Finally, ValuEngine raised Uniti Group from a “strong sell” rating to a “sell” rating in a report on Friday, July 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.80.
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 June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.
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