Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by Comerica Bank

Comerica Bank lowered its stake in shares of Uniti Group Inc. (NASDAQ:UNITGet Rating) by 9.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,196 shares of the real estate investment trust’s stock after selling 20,035 shares during the quarter. Comerica Bank’s holdings in Uniti Group were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UNIT. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Uniti Group by 114.9% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 66,678 shares of the real estate investment trust’s stock worth $628,000 after acquiring an additional 35,647 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Uniti Group during the second quarter worth approximately $296,000. MQS Management LLC purchased a new position in shares of Uniti Group during the second quarter worth approximately $136,000. Mackenzie Financial Corp grew its position in shares of Uniti Group by 41.8% during the second quarter. Mackenzie Financial Corp now owns 18,383 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 5,417 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its position in shares of Uniti Group by 2.0% during the second quarter. Maryland State Retirement & Pension System now owns 96,550 shares of the real estate investment trust’s stock worth $910,000 after acquiring an additional 1,885 shares during the last quarter. Institutional investors and hedge funds own 83.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Uniti Group from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Citigroup lowered their price objective on shares of Uniti Group from $12.00 to $9.00 in a research report on Sunday, November 13th. Morgan Stanley lowered their price objective on shares of Uniti Group from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, October 24th. Finally, Royal Bank of Canada lowered their price objective on shares of Uniti Group from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 20th.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $6.28 on Tuesday. The firm has a market capitalization of $1.49 billion, a P/E ratio of -69.77 and a beta of 1.19. Uniti Group Inc. has a one year low of $5.34 and a one year high of $14.25. The company’s fifty day moving average is $6.35 and its two-hundred day moving average is $7.79.

Uniti Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 16th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 9.55%. Uniti Group’s payout ratio is currently -666.59%.

About Uniti Group

(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.

Read More

Want to see what other hedge funds are holding UNIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uniti Group Inc. (NASDAQ:UNITGet Rating).

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

Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.