Arrowstreet Capital Limited Partnership Acquires 144,967 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Arrowstreet Capital Limited Partnership increased its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 27.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,984 shares of the real estate investment trust's stock after purchasing an additional 144,967 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.27% of Uniti Group worth $3,679,000 as of its most recent filing with the Securities and Exchange Commission.

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

Uniti Group Trading Up 3.8 %

NASDAQ UNIT traded up $0.17 during trading on Monday, reaching $4.47. 51,960 shares of the company's stock were exchanged, compared to its average volume of 2,713,455. The company's fifty day simple moving average is $5.16 and its 200-day simple moving average is $5.47. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31. The firm has a market capitalization of $1.09 billion, a PE ratio of 10.80 and a beta of 1.57.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The business had revenue of $293.32 million during the quarter, compared to analyst estimates of $294.59 million. Equities analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UNIT. Raymond James raised shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $6.00 to $8.00 in a research report on Monday, February 24th. Royal Bank of Canada boosted their price target on shares of Uniti Group from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, December 23rd.

Uniti Group Profile

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.