Allspring Global Investments Holdings LLC Grows Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Allspring Global Investments Holdings LLC increased its stake in Uniti Group Inc. (NASDAQ:UNIT) by 12.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,863 shares of the real estate investment trust’s stock after acquiring an additional 8,051 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Uniti Group were worth $427,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB acquired a new stake in Uniti Group in the fourth quarter valued at $9,714,000. Federated Hermes Inc. increased its position in shares of Uniti Group by 226.7% during the third quarter. Federated Hermes Inc. now owns 1,555,458 shares of the real estate investment trust’s stock worth $7,342,000 after purchasing an additional 1,079,300 shares in the last quarter. DigitalBridge Group Inc. increased its position in shares of Uniti Group by 55.1% during the third quarter. DigitalBridge Group Inc. now owns 1,676,326 shares of the real estate investment trust’s stock worth $7,912,000 after purchasing an additional 595,864 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Uniti Group by 538.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 685,874 shares of the real estate investment trust’s stock worth $3,978,000 after purchasing an additional 578,371 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Uniti Group by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,443,763 shares of the real estate investment trust’s stock worth $30,415,000 after purchasing an additional 545,205 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on UNIT shares. TD Cowen raised their price target on Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a report on Monday, March 25th.

Uniti Group Stock Up 3.3 %

NASDAQ UNIT opened at $5.78 on Friday. Uniti Group Inc. has a 52-week low of $2.94 and a 52-week high of $6.71. The business’s 50-day moving average price is $5.88 and its 200 day moving average price is $5.46. The firm has a market cap of $1.39 billion, a P/E ratio of -32.11 and a beta of 1.40.

Uniti Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.38%. The ex-dividend date was Wednesday, March 27th. Uniti Group’s dividend payout ratio is currently -333.31%.

Uniti Group Profile

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 fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.