SeaCrest Wealth Management LLC Buys New Stake in Uniti Group Inc. (NASDAQ:UNIT)

SeaCrest Wealth Management LLC bought a new stake in Uniti Group Inc. (NASDAQ:UNITGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,585 shares of the real estate investment trust’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in shares of Uniti Group in the first quarter valued at $42,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Uniti Group in the first quarter worth $47,000. PenderFund Capital Management Ltd. bought a new stake in Uniti Group in the first quarter worth $48,000. Miracle Mile Advisors LLC bought a new stake in Uniti Group in the second quarter worth $109,000. Finally, Xponance Inc. bought a new stake in Uniti Group in the second quarter worth $121,000. 84.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UNIT has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price target on Uniti Group from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Royal Bank of Canada lowered their price target on Uniti Group from $14.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, October 20th. Morgan Stanley lowered their price target on Uniti Group from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, October 24th. Finally, Citigroup decreased their target price on Uniti Group from $12.00 to $9.00 in a research report on Sunday, November 13th.

Uniti Group Trading Down 2.7 %

NASDAQ:UNIT opened at $7.25 on Tuesday. Uniti Group Inc. has a twelve month low of $6.35 and a twelve month high of $14.27. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -80.55, a price-to-earnings-growth ratio of 0.26 and a beta of 1.12. The stock has a fifty day simple moving average of $7.40 and a 200-day simple moving average of $9.13.

Uniti Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 8.28%. Uniti Group’s dividend payout ratio (DPR) is -666.59%.

Uniti Group Profile

(Get Rating)

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.

Further Reading

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

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