Northwestern Mutual Investment Management Company LLC Purchased $625,000 in Uniti Group Inc (UNIT)

Northwestern Mutual Investment Management Company LLC Purchased $625,000 in Uniti Group Inc (UNIT)

Northwestern Mutual Investment Management Company LLC acquired a new stake in Uniti Group Inc (NASDAQ:UNIT) during the first quarter, Holdings Channel reports. The institutional investor acquired 24,162 shares of the real estate investment trust’s stock, valued at approximately $625,000.

Several other large investors also recently bought and sold shares of the company. Sei Investments Co. bought a new stake in Uniti Group during the first quarter valued at approximately $107,000. Delta Asset Management LLC TN bought a new stake in Uniti Group during the first quarter valued at approximately $127,000. Glen Harbor Capital Management LLC bought a new stake in Uniti Group during the first quarter valued at approximately $134,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Uniti Group during the first quarter valued at approximately $136,000. Finally, Tyers Asset Management LLC bought a new stake in Uniti Group during the first quarter valued at approximately $184,000. Institutional investors and hedge funds own 62.80% of the company’s stock.

Shares of Uniti Group Inc (NASDAQ UNIT) traded up 1.17% on Friday, hitting $25.86. 726,690 shares of the company traded hands. The stock’s 50-day moving average price is $25.64 and its 200-day moving average price is $26.03. Uniti Group Inc has a 12 month low of $22.50 and a 12 month high of $32.73. The company’s market capitalization is $4.54 billion.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date is Wednesday, June 28th. Uniti Group’s dividend payout ratio is currently 4,800.00%.

UNIT has been the subject of several research reports. Deutsche Bank AG initiated coverage on shares of Uniti Group in a research note on Monday, May 22nd. They set a “buy” rating and a $28.00 price objective for the company. Wells Fargo & Co started coverage on shares of Uniti Group in a report on Thursday, February 16th. They set an “outperform” rating for the company. Morgan Stanley started coverage on shares of Uniti Group in a report on Tuesday, February 28th. They set an “overweight” rating for the company. Finally, Zacks Investment Research cut shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Uniti Group has a consensus rating of “Buy” and a consensus price target of $32.00.

In other Uniti Group news, insider Kenny Gunderman purchased 14,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average price of $24.15 per share, for a total transaction of $350,175.00. Following the purchase, the insider now directly owns 262,053 shares in the company, valued at $6,328,579.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:UNIT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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