Fox Run Management L.L.C. purchased a new stake in Uniti Group Inc (NASDAQ:UNIT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,235 shares of the real estate investment trust’s stock, valued at approximately $347,000.

A number of other hedge funds also recently bought and sold shares of the stock. Xact Kapitalforvaltning AB raised its stake in Uniti Group by 11.9% in the second quarter. Xact Kapitalforvaltning AB now owns 25,434 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 2,700 shares in the last quarter. BB&T Securities LLC raised its stake in Uniti Group by 8.2% in the second quarter. BB&T Securities LLC now owns 36,658 shares of the real estate investment trust’s stock valued at $734,000 after purchasing an additional 2,773 shares in the last quarter. Chicago Equity Partners LLC raised its stake in Uniti Group by 10.5% in the second quarter. Chicago Equity Partners LLC now owns 32,220 shares of the real estate investment trust’s stock valued at $645,000 after purchasing an additional 3,055 shares in the last quarter. Arizona State Retirement System raised its stake in Uniti Group by 2.7% in the second quarter. Arizona State Retirement System now owns 114,668 shares of the real estate investment trust’s stock valued at $2,297,000 after purchasing an additional 3,062 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Uniti Group by 48.5% in the first 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. 71.33% of the stock is owned by institutional investors and hedge funds.

Uniti Group stock opened at $19.13 on Thursday. Uniti Group Inc has a 12-month low of $13.94 and a 12-month high of $23.42. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of -0.04. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.65). Uniti Group had a net margin of 1.83% and a negative return on equity of 1.45%. The business had revenue of $247.30 million during the quarter, compared to the consensus estimate of $250.07 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that Uniti Group Inc will post 2.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 12.55%. The ex-dividend date is Thursday, September 27th. Uniti Group’s dividend payout ratio is presently 95.62%.

A number of research analysts have issued reports on UNIT shares. ValuEngine upgraded Uniti Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. BidaskClub cut Uniti Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 16th. Zacks Investment Research cut Uniti Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Morgan Stanley cut Uniti Group from an “overweight” rating to an “equal weight” rating and set a $24.00 target price on the stock. in a research report on Thursday, June 14th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $22.00 target price on shares of Uniti Group in a research report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Uniti Group has an average rating of “Hold” and a consensus target price of $25.80.

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 June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.

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Institutional Ownership by Quarter for Uniti Group (NASDAQ:UNIT)

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