ExodusPoint Capital Management LP Acquires New Shares in Uniti Group Inc. (NASDAQ:UNIT)

ExodusPoint Capital Management LP purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 209,253 shares of the real estate investment trust's stock, valued at approximately $1,151,000. ExodusPoint Capital Management LP owned approximately 0.09% of Uniti Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UNIT. King Street Capital Management L.P. bought a new position in shares of Uniti Group in the third quarter worth about $8,798,000. Strategic Financial Concepts LLC increased its holdings in shares of Uniti Group by 449.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust's stock valued at $5,338,000 after purchasing an additional 794,049 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Uniti Group by 136.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust's stock worth $7,501,000 after purchasing an additional 787,319 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Uniti Group by 42.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,787,257 shares of the real estate investment trust's stock worth $9,830,000 after buying an additional 529,050 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Uniti Group by 30.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust's stock valued at $10,612,000 after buying an additional 446,168 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

Analysts Set New Price Targets

UNIT has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on Uniti Group from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, December 23rd. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $6.00 to $8.00 in a research report on Monday, February 24th.

Uniti Group Stock Up 2.6 %

UNIT stock traded up $0.12 during midday trading on Tuesday, reaching $4.62. The company's stock had a trading volume of 295,560 shares, compared to its average volume of 2,712,768. The business's 50-day simple moving average is $5.14 and its 200-day simple moving average is $5.47. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.31. The stock has a market cap of $1.13 billion, a PE ratio of 11.23 and a beta of 1.57.

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

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.