GAMMA Investing LLC Acquires New Stake in Uniti Group Inc. (NASDAQ:UNIT)

GAMMA Investing LLC bought a new position in Uniti Group Inc. (NASDAQ:UNIT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,946 shares of the real estate investment trust’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB bought a new position in shares of Uniti Group in the fourth quarter worth about $9,714,000. Federated Hermes Inc. increased its position in shares of Uniti Group by 226.7% during the third quarter. Federated Hermes Inc. now owns 1,555,458 shares of the real estate investment trust’s stock worth $7,342,000 after acquiring an additional 1,079,300 shares during the period. DigitalBridge Group Inc. increased its position in shares of Uniti Group by 55.1% during 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 acquiring an additional 595,864 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Uniti Group by 538.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 685,874 shares of the real estate investment trust’s stock valued at $3,978,000 after acquiring an additional 578,371 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $30,415,000 after purchasing an additional 545,205 shares during the period. 87.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on UNIT shares. TD Cowen raised their price objective on Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada restated a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a research note on Monday, March 25th.

Uniti Group Stock Performance

Shares of UNIT opened at $4.44 on Monday. The company has a 50 day moving average price of $5.88 and a 200-day moving average price of $5.51. Uniti Group Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $6.71. The stock has a market capitalization of $1.07 billion, a PE ratio of 74.01 and a beta of 1.40.

Uniti Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 13.51%. Uniti Group’s dividend payout ratio is currently 1,000.17%.

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.