Uniti Group Inc (NASDAQ:UNIT) saw a significant growth in short interest in December. As of December 29th, there was short interest totalling 31,431,733 shares, a growth of 6.3% from the December 15th total of 29,559,152 shares. Currently, 19.2% of the shares of the stock are sold short. Based on an average daily volume of 2,221,775 shares, the days-to-cover ratio is currently 14.1 days.
Several institutional investors and hedge funds have recently made changes to their positions in UNIT. Crossmark Global Holdings Inc. acquired a new position in shares of Uniti Group in the 3rd quarter worth approximately $316,000. Bank of Montreal Can boosted its holdings in shares of Uniti Group by 20.4% in the 4th quarter. Bank of Montreal Can now owns 21,306 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 3,608 shares in the last quarter. Messner & Smith Theme Value Investment Management Ltd. CA acquired a new position in shares of Uniti Group in the 3rd quarter worth approximately $757,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Uniti Group by 86.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 37,949 shares of the real estate investment trust’s stock worth $954,000 after acquiring an additional 17,600 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Uniti Group by 636.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 67,000 shares of the real estate investment trust’s stock worth $982,000 after acquiring an additional 57,900 shares in the last quarter. 70.01% of the stock is currently owned by institutional investors and hedge funds.
Uniti Group (NASDAQ:UNIT) opened at $16.40 on Wednesday. The company has a market capitalization of $2,880.00 and a P/E ratio of -60.74. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of -0.05. Uniti Group has a 1-year low of $13.81 and a 1-year high of $29.65.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 14.63%. The ex-dividend date was Thursday, December 28th. Uniti Group’s payout ratio is currently -888.89%.
A number of equities research analysts have weighed in on UNIT shares. Citigroup downgraded Uniti Group from a “buy” rating to a “neutral” rating in a report on Tuesday, September 26th. ValuEngine downgraded Uniti Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 31st. Royal Bank of Canada decreased their price objective on Uniti Group from $32.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Cowen reissued a “buy” rating and issued a $30.00 target price on shares of Uniti Group in a report on Thursday, October 19th. Finally, BidaskClub downgraded Uniti Group from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Uniti Group has a consensus rating of “Buy” and a consensus price target of $26.14.
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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.
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