Uniti Group Inc. (NASDAQ:UNIT) Shares Acquired by Bailard Inc.

Bailard Inc. lifted its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 198.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,680 shares of the real estate investment trust’s stock after buying an additional 98,931 shares during the quarter. Bailard Inc. owned approximately 0.06% of Uniti Group worth $859,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in Uniti Group by 7.3% in the 3rd quarter. Mackenzie Financial Corp now owns 44,228 shares of the real estate investment trust’s stock valued at $197,000 after purchasing an additional 3,003 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Uniti Group by 21.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,644 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 3,169 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Uniti Group by 2.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 181,171 shares of the real estate investment trust’s stock valued at $855,000 after buying an additional 3,715 shares in the last quarter. Swiss National Bank grew its holdings in Uniti Group by 1.0% in the 3rd quarter. Swiss National Bank now owns 524,474 shares of the real estate investment trust’s stock valued at $2,476,000 after buying an additional 5,000 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Uniti Group in the 4th quarter valued at $31,000. 87.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on UNIT shares. TD Cowen upped their target price on Uniti Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a report on Monday, March 25th.

Uniti Group Stock Performance

Shares of Uniti Group stock opened at $5.78 on Friday. The business has a 50-day moving average of $5.88 and a 200 day moving average of $5.46. Uniti Group Inc. has a 12 month low of $2.94 and a 12 month high of $6.71.

Uniti Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.38%. The ex-dividend date of this dividend was Wednesday, March 27th. Uniti Group’s dividend payout ratio (DPR) is -333.31%.

Uniti Group Company Profile

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.