An issue of Uniti Group Inc (NASDAQ:UNIT) bonds rose 0.8% as a percentage of their face value during trading on Wednesday. The high-yield issue of debt has a 8.25% coupon and will mature on October 15, 2023. The debt is now trading at $96.00 and was trading at $93.00 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
A number of equities research analysts have weighed in on UNIT shares. ValuEngine lowered Uniti Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub lowered Uniti Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 31st. Finally, Cowen set a $26.00 price objective on Uniti Group and gave the company a “buy” rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $25.57.
Shares of Uniti Group Inc (NASDAQ:UNIT) traded up $0.09 on Wednesday, hitting $17.03. The stock had a trading volume of 1,960,000 shares, compared to its average volume of 2,550,000. The firm has a market cap of $2,990.00 and a price-to-earnings ratio of -851.50. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of -0.05. Uniti Group Inc has a one year low of $13.81 and a one year high of $27.78.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be given a $0.60 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.40 annualized dividend and a dividend yield of 14.09%. Uniti Group’s payout ratio is -12,000.00%.
Several institutional investors and hedge funds have recently modified their holdings of UNIT. Creative Planning acquired a new position in shares of Uniti Group in the 4th quarter worth approximately $188,000. MML Investors Services LLC acquired a new position in shares of Uniti Group in the 4th quarter worth approximately $223,000. Alps Advisors Inc. acquired a new position in shares of Uniti Group in the 4th quarter worth approximately $229,000. Driehaus Capital Management LLC acquired a new position in shares of Uniti Group in the 4th quarter worth approximately $249,000. Finally, Elkfork Partners LLC acquired a new position in shares of Uniti Group in the 4th quarter worth approximately $265,000. Institutional investors own 76.53% of the company’s stock.
About Uniti Group
Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.
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