Uniti Group Inc. (NASDAQ:UNIT) Shares Acquired by Algert Global LLC

Algert Global LLC grew its holdings in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 836,178 shares of the real estate investment trust's stock after purchasing an additional 85,857 shares during the period. Algert Global LLC owned about 0.34% of Uniti Group worth $4,599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of UNIT. Golden State Equity Partners lifted its position in Uniti Group by 9.5% during the 4th quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust's stock worth $127,000 after buying an additional 2,000 shares in the last quarter. Franklin Resources Inc. boosted its stake in Uniti Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust's stock valued at $572,000 after acquiring an additional 2,328 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Uniti Group by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust's stock valued at $1,402,000 after purchasing an additional 2,397 shares in the last quarter. Arizona State Retirement System grew its stake in Uniti Group by 3.6% in the 4th quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust's stock worth $389,000 after buying an additional 2,460 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in Uniti Group by 3.6% during the 4th quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust's stock valued at $405,000 after purchasing an additional 2,563 shares during the period. Institutional investors own 87.51% of the company's stock.

Wall Street Analysts Forecast Growth

UNIT has been the topic of a number of research analyst reports. Raymond James raised Uniti Group from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $6.00 to $8.00 in a report on Monday, February 24th. Wells Fargo & Company dropped their target price on shares of Uniti Group from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research report on Thursday.

Uniti Group Stock Up 2.0 %

Shares of UNIT traded up $0.09 during mid-day trading on Friday, hitting $4.52. 2,153,542 shares of the company's stock were exchanged, compared to its average volume of 2,526,688. The stock's 50-day simple moving average is $4.80 and its 200-day simple moving average is $5.35. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.31. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 11.02 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting analysts' consensus estimates of $0.35. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The company had revenue of $293.91 million during the quarter, compared to analyst estimates of $295.39 million. During the same period in the prior year, the business posted $0.32 earnings per share. Uniti Group's revenue for the quarter was up 2.6% on a year-over-year basis. Analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

About Uniti Group

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.