LSV Asset Management Sells 637,223 Shares of Uniti Group Inc. $UNIT

LSV Asset Management trimmed its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 19.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,570,892 shares of the real estate investment trust’s stock after selling 637,223 shares during the quarter. LSV Asset Management’s holdings in Uniti Group were worth $18,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Royal Bank of Canada boosted its position in Uniti Group by 10.1% in the first quarter. Royal Bank of Canada now owns 198,000 shares of the real estate investment trust’s stock worth $998,000 after purchasing an additional 18,165 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Uniti Group in the 1st quarter worth approximately $161,000. Goldman Sachs Group Inc. boosted its holdings in shares of 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 worth $23,207,000 after buying an additional 877,911 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Uniti Group in the first quarter worth approximately $80,000. Finally, Franklin Resources Inc. grew its position in Uniti Group by 40.9% during the second quarter. Franklin Resources Inc. now owns 50,586 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 14,696 shares during the period. Institutional investors own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

UNIT has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Uniti Group from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of Uniti Group from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. TD Cowen raised their target price on Uniti Group from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Uniti Group has an average rating of “Hold” and an average target price of $10.92.

Uniti Group Stock Performance

Uniti Group stock opened at $11.04 on Tuesday. Uniti Group Inc. has a 12-month low of $5.30 and a 12-month high of $12.39. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 3.30 and a beta of 1.44. The firm has a 50 day moving average of $10.30 and a 200 day moving average of $8.35.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.01. The business had revenue of $987.50 million for the quarter, compared to the consensus estimate of $930.08 million. Uniti Group had a net margin of 39.61% and a negative return on equity of 2.52%. The company’s revenue for the quarter was up 236.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, analysts predict that Uniti Group Inc. will post -1.75 EPS for the current 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.