Uniti Group Inc. $UNIT Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Uniti Group Inc. (NASDAQ:UNIT) by 38.9% during the 4th quarter, Holdings Channel reports. The fund owned 23,202,733 shares of the real estate investment trust’s stock after acquiring an additional 6,494,001 shares during the quarter. Vanguard Group Inc. owned approximately 0.16% of Uniti Group worth $162,651,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in UNIT. Osaic Holdings Inc. raised its holdings in Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,795 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Uniti Group in the third quarter valued at approximately $75,000. United Services Automobile Association acquired a new stake in Uniti Group in the first quarter valued at approximately $80,000. IFP Advisors Inc raised its holdings in Uniti Group by 461.4% in the third quarter. IFP Advisors Inc now owns 13,485 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 11,083 shares in the last quarter. Finally, Ares Management LLC acquired a new stake in Uniti Group in the third quarter valued at approximately $89,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Stock Performance

Shares of UNIT opened at $11.28 on Monday. The firm has a market cap of $2.74 billion, a PE ratio of 2.99 and a beta of 1.44. The company’s 50 day simple moving average is $9.54 and its 200-day simple moving average is $7.91. Uniti Group Inc. has a 12-month low of $5.30 and a 12-month high of $12.18.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.73). The business had revenue of $917.20 million for the quarter, compared to analysts’ expectations of $909.44 million. Uniti Group had a negative return on equity of 2.52% and a net margin of 55.60%.The business’s revenue was up 212.8% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. As a group, equities research analysts forecast that Uniti Group Inc. will post -1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UNIT. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Weiss Ratings raised shares of Uniti Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Barclays raised their price objective on shares of Uniti Group from $8.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada raised their price objective on shares of Uniti Group from $6.50 to $7.50 and gave the stock a “sector perform” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company raised their price objective on shares of Uniti Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.92.

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.