Federated Hermes Inc. Trims Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Federated Hermes Inc. decreased its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 29.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,101,394 shares of the real estate investment trust’s stock after selling 454,064 shares during the period. Federated Hermes Inc. owned 0.46% of Uniti Group worth $6,366,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Uniti Group by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,443,763 shares of the real estate investment trust’s stock worth $30,415,000 after purchasing an additional 545,205 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Uniti Group by 10.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,085,187 shares of the real estate investment trust’s stock worth $9,842,000 after purchasing an additional 201,997 shares in the last quarter. DigitalBridge Group Inc. increased its stake in shares of Uniti Group by 55.1% in the third quarter. DigitalBridge Group Inc. now owns 1,676,326 shares of the real estate investment trust’s stock worth $7,912,000 after purchasing an additional 595,864 shares in the last quarter. Nordea Investment Management AB purchased a new position in Uniti Group during the fourth quarter valued at approximately $9,714,000. Finally, Mizuho Markets Americas LLC grew its stake in Uniti Group by 22.8% during the third quarter. Mizuho Markets Americas LLC now owns 1,123,962 shares of the real estate investment trust’s stock valued at $5,305,000 after acquiring an additional 208,500 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on UNIT. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $5.50 price objective on shares of Uniti Group in a research note on Monday, March 25th. TD Cowen boosted their price objective on shares of Uniti Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, March 1st.

Uniti Group Price Performance

Shares of Uniti Group stock opened at $5.60 on Friday. Uniti Group Inc. has a 1 year low of $2.94 and a 1 year high of $6.71. The firm has a market cap of $1.34 billion, a PE ratio of -31.08 and a beta of 1.40. The company has a 50 day simple moving average of $5.86 and a two-hundred day simple moving average of $5.46.

Uniti Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a yield of 10.72%. Uniti Group’s payout ratio is presently -333.31%.

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.