Northwestern Mutual Investment Management Company LLC cut its position in Uniti Group Inc (NASDAQ:UNIT) by 5.9% during the first quarter, Holdings Channel reports. The institutional investor owned 31,842 shares of the real estate investment trust’s stock after selling 1,991 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Uniti Group were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Joseph P. Lucia & Associates LLC bought a new position in shares of Uniti Group in the first quarter worth about $89,000. Athena Capital Advisors LLC acquired a new position in Uniti Group during the fourth quarter worth $82,000. Truvestments Capital LLC bought a new stake in Uniti Group during the first quarter worth $59,000. Rocky Mountain Advisers LLC raised its position in Uniti Group by 1,566.7% during the first quarter. Rocky Mountain Advisers LLC now owns 7,500 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 7,050 shares in the last quarter. Finally, Sun Life Financial INC bought a new position in shares of Uniti Group in the fourth quarter valued at about $145,000. Institutional investors and hedge funds own 79.53% of the company’s stock.

Uniti Group stock traded up $0.08 during midday trading on Wednesday, reaching $10.45. The stock had a trading volume of 16,130 shares, compared to its average volume of 4,231,585. Uniti Group Inc has a 12 month low of $8.06 and a 12 month high of $23.42. The stock has a market capitalization of $1.91 billion, a P/E ratio of 4.15, a P/E/G ratio of 1.60 and a beta of 1.10.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $261.03 million during the quarter, compared to the consensus estimate of $270.25 million. Research analysts predict that Uniti Group Inc will post 2.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, June 27th. Uniti Group’s dividend payout ratio is currently 7.97%.

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank reduced their price target on shares of Uniti Group from $20.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. BidaskClub raised shares of Uniti Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. Zacks Investment Research raised shares of Uniti Group from a “strong sell” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, May 22nd. ValuEngine cut Uniti Group from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Finally, Morgan Stanley lowered their target price on Uniti Group from $16.00 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 26th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.50.

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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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