448,091 Shares in Uniti Group Inc. $UNIT Bought by First Trust Advisors LP

Key Points

• First Trust Advisors LP acquired 448,091 shares of Uniti Group, valued at approximately $4.2 million, giving it a 0.18% stake. Institutional investors and hedge funds collectively own 87.51% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $10.92; recent targets range from $7.50 to $12.00.
• Uniti Group reported quarterly revenue of $909.7 million, exceeding estimates, but posted an adjusted loss of $0.68 per share versus the expected $0.45 loss. The stock opened at $10.05 and has traded between $5.30 and $12.94 over the past year.

First Trust Advisors LP bought a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 448,091 shares of the real estate investment trust's stock, valued at approximately $4,203,000. First Trust Advisors LP owned 0.18% of Uniti Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new stake in Uniti Group in the fourth quarter valued at $40,000. KBC Group NV acquired a new position in shares of Uniti Group during the 1st quarter worth about $43,000. Osaic Holdings Inc. increased its stake in shares of Uniti Group by 20.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 1,795 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Uniti Group during the 4th quarter worth about $72,000. Finally, Cibc World Markets Corp bought a new stake in shares of Uniti Group in the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 87.51% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on UNIT shares. Royal Bank Of Canada raised their price objective on Uniti Group from $6.50 to $7.50 and gave the company a "sector perform" rating in a research report on Monday, April 13th. Williams Trading set a $12.00 target price on Uniti Group in a research report on Tuesday, May 12th. Citigroup lifted their price target on Uniti Group from $9.00 to $11.75 and gave the stock a "neutral" rating in a report on Tuesday, May 19th. Wells Fargo & Company increased their price objective on Uniti Group from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Uniti Group from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Uniti Group presently has a consensus rating of "Hold" and a consensus price target of $10.92.

Uniti Group Stock Performance

Uniti Group stock opened at $10.05 on Wednesday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 3.71 and a beta of 1.40. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.94. The firm has a 50 day moving average price of $11.16 and a two-hundred day moving average price of $9.92.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.23). The firm had revenue of $909.70 million during the quarter, compared to analyst estimates of $884.82 million. Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. As a group, equities research analysts predict that Uniti Group Inc. will post -1.65 EPS for the current fiscal year.

Uniti Group 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.

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