UNIT Stock: Uniti Group Inc Short Interest Up 4.9% in November

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Uniti Group Inc (NASDAQ:UNIT) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 31,340,881 shares, an increase of 4.9% from the November 15th total of 29,876,774 shares. Currently, 19.1% of the company’s shares are sold short. Based on an average daily volume of 2,125,321 shares, the days-to-cover ratio is presently 14.7 days.

Shares of Uniti Group (UNIT) opened at $17.79 on Monday. Uniti Group has a 52 week low of $13.81 and a 52 week high of $29.65. The company has a debt-to-equity ratio of -0.05, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $3,160.00 and a PE ratio of -65.89.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a $0.60 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 13.49%. Uniti Group’s dividend payout ratio (DPR) is presently -888.89%.

A number of research firms have issued reports on UNIT. Royal Bank of Canada restated a “buy” rating and issued a $32.00 price objective on shares of Uniti Group in a research report on Monday, September 18th. BidaskClub upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Cowen restated a “buy” rating on shares of Uniti Group in a research report on Friday, November 3rd. Zacks Investment Research lowered shares of Uniti Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Citigroup lowered shares of Uniti Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $26.14.

A number of institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. purchased a new position in shares of Uniti Group during the third quarter valued at approximately $316,000. IFP Advisors Inc raised its holdings in shares of Uniti Group by 12.6% during the second quarter. IFP Advisors Inc now owns 14,132 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 1,585 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Uniti Group during the first quarter valued at approximately $479,000. Messner & Smith Theme Value Investment Management Ltd. CA purchased a new position in shares of Uniti Group during the third quarter valued at approximately $757,000. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Uniti Group by 86.5% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 37,949 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 17,600 shares during the last quarter. 70.01% of the stock is owned by institutional investors and hedge funds.

About Uniti Group

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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