Metropolitan Life Insurance Co. NY decreased its stake in Uniti Group Inc (NASDAQ:UNIT) by 69.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,258 shares of the real estate investment trust’s stock after selling 107,915 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Uniti Group were worth $841,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in UNIT. Teachers Advisors LLC boosted its position in shares of Uniti Group by 378.7% in the 4th quarter. Teachers Advisors LLC now owns 899,263 shares of the real estate investment trust’s stock valued at $15,998,000 after purchasing an additional 711,419 shares during the period. Lion Point Capital LP acquired a new position in shares of Uniti Group in the 4th quarter valued at $10,674,000. Paloma Partners Management Co acquired a new position in shares of Uniti Group in the 4th quarter valued at $9,354,000. Amundi Pioneer Asset Management Inc. boosted its position in shares of Uniti Group by 384.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 396,975 shares of the real estate investment trust’s stock valued at $7,062,000 after purchasing an additional 315,000 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Uniti Group in the 4th quarter valued at $4,714,000. Institutional investors and hedge funds own 76.50% of the company’s stock.
A number of equities analysts recently weighed in on the company. ValuEngine lowered Uniti Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. BidaskClub upgraded Uniti Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 17th. Finally, Cowen set a $26.00 price target on Uniti Group and gave the company a “buy” rating in a research report on Friday, March 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Uniti Group currently has a consensus rating of “Hold” and a consensus target price of $25.57.
Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.62. The business had revenue of $246.30 million for the quarter, compared to analyst estimates of $246.90 million. The business’s revenue was up 19.0% on a year-over-year basis. equities analysts expect that Uniti Group Inc will post 2.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a yield of 14.78%. Uniti Group’s payout ratio is presently 95.62%.
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.
Want to see what other hedge funds are holding UNIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uniti Group Inc (NASDAQ:UNIT).
Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.