Vanguard Group Inc. Has $102.26 Million Stock Holdings in Uniti Group Inc. $UNIT

Vanguard Group Inc. decreased its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 55.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,708,732 shares of the real estate investment trust’s stock after selling 20,409,502 shares during the period. Vanguard Group Inc. owned approximately 11.29% of Uniti Group worth $102,257,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Royal Bank of Canada increased its position in Uniti Group by 10.1% during the first quarter. Royal Bank of Canada now owns 198,000 shares of the real estate investment trust’s stock worth $998,000 after acquiring an additional 18,165 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Uniti Group during the first quarter worth approximately $161,000. Goldman Sachs Group Inc. increased its holdings in shares of Uniti Group by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after purchasing an additional 877,911 shares during the period. United Services Automobile Association acquired a new stake in shares of Uniti Group in the first quarter valued at approximately $80,000. Finally, Bank of Montreal Can boosted its stake in shares of Uniti Group by 3.5% in the second quarter. Bank of Montreal Can now owns 549,664 shares of the real estate investment trust’s stock valued at $2,375,000 after buying an additional 18,538 shares during the period. Institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on UNIT shares. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a report on Sunday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $11.00 price target on shares of Uniti Group in a research note on Tuesday. Wells Fargo & Company reduced their price objective on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th. Finally, Barclays set a $8.00 price target on shares of Uniti Group in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.66.

Uniti Group Stock Performance

Shares of NASDAQ:UNIT opened at $7.84 on Thursday. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $11.73. The company has a market capitalization of $1.16 billion, a PE ratio of 2.08 and a beta of 1.50. The company has a fifty day moving average of $7.68 and a 200-day moving average of $6.81.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.73). Uniti Group had a negative return on equity of 2.52% and a net margin of 55.60%.The firm had revenue of $917.30 million for the quarter, compared to the consensus estimate of $909.44 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 212.8% on a year-over-year basis. On average, equities analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Uniti Group Company 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.