Uniti Group Inc (NASDAQ:UNIT) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 26,691,500 shares, a growth of 10.9% from the July 31st total of 24,058,200 shares. Approximately 15.2% of the company’s shares are short sold. Based on an average trading volume of 3,170,000 shares, the days-to-cover ratio is currently 8.4 days.

Shares of NASDAQ:UNIT traded down $0.23 during midday trading on Friday, reaching $8.03. 1,009,666 shares of the company’s stock were exchanged, compared to its average volume of 1,911,445. The firm’s 50 day simple moving average is $8.11 and its two-hundred day simple moving average is $9.77. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 3.20, a P/E/G ratio of 1.33 and a beta of 1.06. Uniti Group has a fifty-two week low of $7.05 and a fifty-two week high of $21.11.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, September 27th. Uniti Group’s payout ratio is 7.97%.

Several large investors have recently modified their holdings of UNIT. Dimensional Fund Advisors LP increased its position in shares of Uniti Group by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,574,722 shares of the real estate investment trust’s stock worth $40,090,000 after purchasing an additional 75,056 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Uniti Group by 14.7% during the 4th quarter. Geode Capital Management LLC now owns 1,927,806 shares of the real estate investment trust’s stock worth $30,015,000 after purchasing an additional 247,076 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Uniti Group by 23.8% during the 1st quarter. SG Americas Securities LLC now owns 61,864 shares of the real estate investment trust’s stock worth $692,000 after purchasing an additional 11,897 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Uniti Group by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 121,525 shares of the real estate investment trust’s stock worth $1,360,000 after purchasing an additional 4,402 shares during the last quarter. Finally, Stevens Capital Management LP increased its position in shares of Uniti Group by 146.0% during the 1st quarter. Stevens Capital Management LP now owns 31,891 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 18,925 shares during the last quarter. 77.26% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have issued reports on UNIT shares. BidaskClub raised Uniti Group from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 15th. Seven research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Sell” and an average price target of $12.57.

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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.

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