Pacer Advisors Inc. Has $9.20 Million Stake in Uniti Group Inc. (NASDAQ:UNIT)

Pacer Advisors Inc. lessened its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 52.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,591,153 shares of the real estate investment trust’s stock after selling 1,767,738 shares during the period. Pacer Advisors Inc. owned 0.67% of Uniti Group worth $9,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors L.P. increased its holdings in shares of Uniti Group by 31.3% in the first quarter. Natixis Advisors L.P. now owns 37,929 shares of the real estate investment trust’s stock valued at $522,000 after purchasing an additional 9,033 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Uniti Group by 2.4% in the 1st quarter. Bank of Montreal Can now owns 70,320 shares of the real estate investment trust’s stock valued at $985,000 after buying an additional 1,629 shares during the period. MetLife Investment Management LLC raised its position in shares of Uniti Group by 57.9% during the first quarter. MetLife Investment Management LLC now owns 101,997 shares of the real estate investment trust’s stock worth $1,403,000 after acquiring an additional 37,410 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Uniti Group by 0.7% during the first quarter. Rhumbline Advisers now owns 644,474 shares of the real estate investment trust’s stock valued at $8,868,000 after acquiring an additional 4,590 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Uniti Group by 1.2% in the first quarter. Great West Life Assurance Co. Can now owns 206,675 shares of the real estate investment trust’s stock valued at $2,917,000 after acquiring an additional 2,481 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Stock Performance

NASDAQ UNIT opened at $5.87 on Thursday. The business has a 50 day simple moving average of $5.69 and a 200 day simple moving average of $5.33. Uniti Group Inc. has a 52-week low of $2.94 and a 52-week high of $6.71. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -32.61 and a beta of 1.41.

Uniti Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.22%. Uniti Group’s dividend payout ratio (DPR) is presently -333.31%.

Analysts Set New Price Targets

UNIT has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $5.50 price objective on shares of Uniti Group in a report on Monday. TD Cowen lifted their price objective on Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

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.