Uniti Group Inc (NASDAQ:UNIT) Sees Significant Decrease in Short Interest

Uniti Group Inc (NASDAQ:UNIT) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 20,353,900 shares, a drop of 8.0% from the May 15th total of 22,119,500 shares. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,070,000 shares, the short-interest ratio is currently 6.6 days.

UNIT traded down $0.22 during trading on Friday, hitting $8.37. The company had a trading volume of 1,778,114 shares, compared to its average volume of 5,047,556. Uniti Group has a one year low of $7.84 and a one year high of $21.33. The stock has a 50-day moving average of $9.85. The stock has a market capitalization of $1.58 billion, a P/E ratio of 3.33, a PEG ratio of 1.29 and a beta of 1.03.

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

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 2.39%. Uniti Group’s dividend payout ratio is presently 7.97%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Allied Advisory Services Inc. grew its stake in Uniti Group by 5.7% in the 4th quarter. First Allied Advisory Services Inc. now owns 13,598 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 728 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Uniti Group by 6.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 11,569 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 732 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Uniti Group by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 32,789 shares of the real estate investment trust’s stock valued at $510,000 after purchasing an additional 910 shares during the period. Joseph P. Lucia & Associates LLC bought a new stake in Uniti Group in the 1st quarter valued at about $89,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Uniti Group by 2.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 50,968 shares of the real estate investment trust’s stock valued at $794,000 after purchasing an additional 1,093 shares during the period. Institutional investors and hedge funds own 79.22% of the company’s stock.

A number of analysts recently weighed in on the stock. Deutsche Bank lowered their price target 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. BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Saturday, July 13th. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Uniti Group has a consensus rating of “Sell” and an average target price 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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