Gabelli Funds LLC Has $4.02 Million Position in Uniti Group Inc (UNIT)
Gabelli Funds LLC increased its stake in shares of Uniti Group Inc (NASDAQ:UNIT) by 44.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,000 shares of the real estate investment trust’s stock after purchasing an additional 70,000 shares during the quarter. Gabelli Funds LLC’s holdings in Uniti Group were worth $4,021,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PVG Asset Management Corp grew its stake in Uniti Group by 31.5% during the 3rd quarter. PVG Asset Management Corp now owns 173,868 shares of the real estate investment trust’s stock worth $2,549,000 after purchasing an additional 41,666 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Uniti Group by 16,667.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 19,450 shares of the real estate investment trust’s stock worth $346,000 after purchasing an additional 19,334 shares in the last quarter. American Asset Management Inc. acquired a new position in Uniti Group during the 4th quarter worth $306,000. State of Alaska Department of Revenue grew its stake in Uniti Group by 9.9% during the 4th quarter. State of Alaska Department of Revenue now owns 103,350 shares of the real estate investment trust’s stock worth $1,837,000 after purchasing an additional 9,270 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Uniti Group by 636.3% during 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 purchasing an additional 57,900 shares in the last quarter. 69.16% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on UNIT shares. Cowen reissued a “buy” rating on shares of Uniti Group in a research note on Friday, November 3rd. ValuEngine cut Uniti Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub raised Uniti Group from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. Finally, Royal Bank of Canada lowered their target price on Uniti Group from $32.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Uniti Group currently has an average rating of “Hold” and a consensus price target of $26.14.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 15.65%. The ex-dividend date of this dividend is Wednesday, March 28th. Uniti Group’s dividend payout ratio (DPR) is -888.89%.
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Uniti Group Company Profile
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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