Cubist Systematic Strategies LLC Boosts Stake in Uniti Group Inc. (NASDAQ:UNIT)

Cubist Systematic Strategies LLC lifted its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 446,804 shares of the real estate investment trust's stock after buying an additional 110,656 shares during the period. Cubist Systematic Strategies LLC owned about 0.18% of Uniti Group worth $2,457,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its position in Uniti Group by 51.3% in the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 2,870 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Uniti Group during the 4th quarter worth about $68,000. Handelsbanken Fonder AB bought a new position in shares of Uniti Group in the 4th quarter valued at about $71,000. Diversified Trust Co bought a new position in shares of Uniti Group in the 4th quarter valued at about $74,000. Finally, Ballentine Partners LLC grew its holdings in shares of Uniti Group by 35.1% in the 4th quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust's stock valued at $84,000 after acquiring an additional 3,966 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Stock Performance

Shares of NASDAQ UNIT traded down $0.21 during trading on Friday, hitting $4.64. 2,076,615 shares of the company traded hands, compared to its average volume of 2,524,406. The business's fifty day moving average is $4.75 and its 200 day moving average is $5.33. 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 $1.14 billion, a price-to-earnings ratio of 11.32 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 for the quarter, compared to analyst estimates of $295.39 million. During the same quarter in the prior year, the business posted $0.32 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Uniti Group Inc. will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UNIT. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $6.00 to $8.00 in a report on Monday, February 24th. Citigroup reaffirmed a "neutral" rating and set a $5.30 target price on shares of Uniti Group in a research note on Friday. Finally, Wells Fargo & Company reduced their price objective on shares of Uniti Group from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th.

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.