Uniti Group (NASDAQ:UNIT) Sees Large Volume Increase

Shares of Uniti Group Inc. (NASDAQ:UNIT) saw an uptick in trading volume on Monday . 2,638,601 shares traded hands during mid-day trading, an increase of 28% from the previous session’s volume of 2,064,407 shares.The stock last traded at $4.01 and had previously closed at $4.44.

Analysts Set New Price Targets

A number of research firms have weighed in on UNIT. TD Cowen increased 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. Raymond James downgraded shares of Uniti Group from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $8.00 to $6.00 in a report on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $5.50 target price on shares of Uniti Group in a report on Monday, March 25th.

Uniti Group Stock Down 14.4 %

The stock has a market cap of $912.87 million, a P/E ratio of 67.84 and a beta of 1.40. The firm has a 50 day moving average price of $5.88 and a 200 day moving average price of $5.51.

Uniti Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 15.79%. The ex-dividend date is Friday, June 14th. Uniti Group’s dividend payout ratio is 1,000.17%.

Institutional Trading of Uniti Group

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in Uniti Group in the 4th quarter worth $31,000. KPP Advisory Services LLC purchased a new stake in shares of Uniti Group during the third quarter worth about $48,000. Park Avenue Securities LLC bought a new stake in Uniti Group during the 3rd quarter valued at approximately $59,000. Regent Peak Wealth Advisors LLC purchased a new position in Uniti Group in the 4th quarter worth approximately $69,000. Finally, Commonwealth Equity Services LLC boosted its stake 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 worth $83,000 after purchasing an additional 3,169 shares during the period. 87.51% of the stock is currently owned by institutional investors.

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.