Nordea Investment Management AB Raises Stake in Uniti Group Inc (NASDAQ:UNIT)

Nordea Investment Management AB boosted its position in shares of Uniti Group Inc (NASDAQ:UNIT) by 22.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 222,961 shares of the real estate investment trust’s stock after acquiring an additional 40,623 shares during the period. Nordea Investment Management AB owned 0.12% of Uniti Group worth $2,495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc raised its stake in Uniti Group by 9.2% during the 3rd quarter. Vanguard Group Inc now owns 24,299,028 shares of the real estate investment trust’s stock worth $489,626,000 after acquiring an additional 2,051,974 shares during the period. Nomura Holdings Inc. bought a new stake in Uniti Group during the 4th quarter worth approximately $45,727,000. Thompson Siegel & Walmsley LLC raised its stake in Uniti Group by 14.9% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 2,814,499 shares of the real estate investment trust’s stock worth $31,494,000 after acquiring an additional 365,292 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 valued at $40,090,000 after buying an additional 75,056 shares in the last quarter. Finally, Toscafund Asset Management LLP grew its holdings in Uniti Group by 14.4% during the 4th quarter. Toscafund Asset Management LLP now owns 2,258,615 shares of the real estate investment trust’s stock valued at $35,167,000 after buying an additional 283,615 shares in the last quarter. Institutional investors own 79.22% of the company’s stock.

Shares of UNIT stock traded down $0.22 on Friday, reaching $8.37. The company’s stock had a trading volume of 1,663,207 shares, compared to its average volume of 4,243,476. The stock’s fifty day simple moving average is $9.87. Uniti Group Inc has a 1 year low of $7.84 and a 1 year high of $21.33. The stock has a market capitalization of $1.58 billion, a P/E ratio of 3.33, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Thursday, May 9th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.54). Uniti Group had a net margin of 1.16% and a negative return on equity of 0.82%. The business had revenue of $261.03 million during the quarter, compared to analysts’ expectations of $270.25 million. As a group, research analysts anticipate that Uniti Group Inc will post 2.22 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, June 27th. Uniti Group’s dividend payout ratio (DPR) is presently 7.97%.

UNIT has been the subject of a number of research analyst reports. BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Saturday, July 13th. Deutsche Bank cut their price objective on shares of Uniti Group from $20.00 to $8.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Finally, ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Six research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has an average rating of “Sell” and an average price target of $14.50.

About Uniti Group

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

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