Uniti Group Inc (NASDAQ:UNIT) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 14,683,030 shares, a decrease of 10.8% from the July 13th total of 16,460,968 shares. Currently, 8.7% of the company’s shares are sold short. Based on an average daily volume of 3,410,791 shares, the days-to-cover ratio is currently 4.3 days.

Institutional investors have recently modified their holdings of the stock. Quad Cities Investment Group LLC bought a new position in shares of Uniti Group in the 2nd quarter worth about $111,000. Winslow Evans & Crocker Inc. increased its stake in Uniti Group by 16,322.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 5,912 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 5,876 shares in the last quarter. Sei Investments Co. increased its stake in Uniti Group by 48.5% during the 1st quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 3,067 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Uniti Group during the 2nd quarter valued at about $629,000. Finally, Homrich & Berg bought a new stake in Uniti Group during the 2nd quarter valued at about $322,000. Institutional investors own 74.29% of the company’s stock.

Shares of Uniti Group stock opened at $18.81 on Tuesday. The company has a debt-to-equity ratio of -0.04, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market capitalization of $3.30 billion, a P/E ratio of 7.55, a price-to-earnings-growth ratio of 0.86 and a beta of 0.66. Uniti Group has a 1 year low of $13.81 and a 1 year high of $23.42.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.65). The business had revenue of $247.30 million during the quarter, compared to the consensus estimate of $250.07 million. Uniti Group had a negative return on equity of 1.50% and a net margin of 1.83%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. equities research analysts expect that Uniti Group will post 2.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 12.76%. Uniti Group’s payout ratio is 95.62%.

UNIT has been the subject of several research reports. ValuEngine lowered shares of Uniti Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. BidaskClub lowered shares of Uniti Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 21st. Citigroup lowered shares of Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price target for the company. in a research note on Wednesday, July 18th. Morgan Stanley lowered shares of Uniti Group from an “overweight” rating to an “equal weight” rating and set a $24.00 price target for the company. in a research note on Thursday, June 14th. Finally, Cowen set a $28.00 price target on shares of Uniti Group and gave the stock a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Uniti Group has a consensus rating of “Hold” and a consensus target price of $25.57.

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 wireless infrastructure solutions for the communications industry. As of March 31, 2018, Uniti owns 5.0 million fiber strand miles, approximately 700 wireless towers, and other communications real estate throughout the United States and Latin America.

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