Sei Investments Co. Acquires 108,438 Shares of Uniti Group Inc. $UNIT

Sei Investments Co. lifted its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 135.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 188,432 shares of the real estate investment trust’s stock after buying an additional 108,438 shares during the quarter. Sei Investments Co.’s holdings in Uniti Group were worth $1,767,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Uniti Group by 38.9% during the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after acquiring an additional 6,494,001 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Uniti Group by 103.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 14,656,558 shares of the real estate investment trust’s stock worth $102,743,000 after purchasing an additional 7,441,044 shares during the period. State Street Corp grew its holdings in Uniti Group by 7.9% in the fourth quarter. State Street Corp now owns 7,116,934 shares of the real estate investment trust’s stock worth $49,890,000 after purchasing an additional 523,054 shares during the period. Goldman Sachs Group Inc. increased its stake in Uniti Group by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after purchasing an additional 877,911 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Uniti Group by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 4,352,729 shares of the real estate investment trust’s stock valued at $30,518,000 after purchasing an additional 323,845 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

UNIT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Uniti Group from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Williams Trading set a $12.00 target price on Uniti Group in a research report on Tuesday, May 12th. Weiss Ratings raised Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Royal Bank Of Canada increased their price target on Uniti Group from $6.50 to $7.50 and gave the stock a “sector perform” rating in a report on Monday, April 13th. Finally, Citigroup raised their price objective on Uniti Group from $9.00 to $11.75 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Uniti Group presently has a consensus rating of “Hold” and an average target price of $10.92.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $9.54 on Monday. Uniti Group Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $12.94. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 3.52 and a beta of 1.40. The firm’s 50-day simple moving average is $11.06 and its 200 day simple moving average is $9.96.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.23). The company had revenue of $909.70 million for the quarter, compared to analyst estimates of $884.82 million. Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. On average, sell-side analysts predict that Uniti Group Inc. will post -2.09 EPS for the current year.

Uniti Group Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.