Mizuho Markets Americas LLC Purchases 107,000 Shares of Uniti Group Inc. $UNIT

Mizuho Markets Americas LLC boosted its position in Uniti Group Inc. (NASDAQ:UNIT) by 26.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 505,246 shares of the real estate investment trust’s stock after buying an additional 107,000 shares during the quarter. Mizuho Markets Americas LLC owned approximately 0.21% of Uniti Group worth $4,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 worth $162,651,000 after acquiring an additional 6,494,001 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Uniti Group by 103.1% in the 4th 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 acquiring an additional 7,441,044 shares during the last quarter. State Street Corp raised its stake in Uniti Group by 7.9% in the 4th quarter. State Street Corp now owns 7,116,934 shares of the real estate investment trust’s stock valued at $49,890,000 after acquiring an additional 523,054 shares during the period. Goldman Sachs Group Inc. raised its stake in Uniti Group by 23.6% in the 1st 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 acquiring an additional 877,911 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Uniti Group by 8.0% during 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 during the last quarter. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Stock Performance

Shares of UNIT opened at $11.02 on Friday. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.94. The stock’s 50-day simple moving average is $11.30 and its 200 day simple moving average is $9.77. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 3.29 and a beta of 1.40.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $987.50 million for the quarter, compared to analysts’ expectations of $930.08 million. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 236.0% compared to the same quarter last year. On average, research analysts forecast that Uniti Group Inc. will post -1.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

UNIT has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on shares of Uniti Group from $6.50 to $7.50 and gave the stock a “sector perform” rating in a research report on Monday, April 13th. Citigroup boosted their price target on shares of Uniti Group from $9.00 to $11.75 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. JPMorgan Chase & Co. upped their price target on shares of Uniti Group from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. TD Cowen raised their price objective on shares of Uniti Group from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Uniti Group presently has an average rating of “Hold” and a consensus price target of $11.14.

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.