Uniti Group (NASDAQ:UNIT) Sets New 1-Year Low at $8.44

Uniti Group Inc. (NASDAQ:UNITGet Rating) shares reached a new 52-week low on Monday . The stock traded as low as $8.44 and last traded at $8.50, with a volume of 8364 shares. The stock had previously closed at $8.54.

Uniti Group Price Performance

The company’s fifty day simple moving average is $9.60 and its two-hundred day simple moving average is $11.05. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 0.31 and a beta of 1.02.

Uniti Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.60 annualized dividend and a yield of 7.10%. Uniti Group’s payout ratio is 81.08%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP raised its holdings in Uniti Group by 121.3% during the first quarter. Allworth Financial LP now owns 3,971 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 2,177 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Uniti Group by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 34,016 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 1,763 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Uniti Group by 0.9% in the 1st quarter. Allianz Asset Management GmbH now owns 8,007,375 shares of the real estate investment trust’s stock worth $110,181,000 after acquiring an additional 74,346 shares in the last quarter. Alberta Investment Management Corp grew its stake in shares of Uniti Group by 36.4% in the 4th quarter. Alberta Investment Management Corp now owns 90,980 shares of the real estate investment trust’s stock worth $1,275,000 after acquiring an additional 24,260 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its stake in shares of Uniti Group by 20.0% in the 1st quarter. State of Tennessee Treasury Department now owns 160,510 shares of the real estate investment trust’s stock worth $2,209,000 after acquiring an additional 26,797 shares in the last quarter. Institutional investors and hedge funds own 84.66% of the company’s stock.

About Uniti Group

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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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