BTG Pactual Asset Management US LLC Buys New Holdings in Uniti Group Inc. $UNIT

Key Points

• BTG Pactual Asset Management acquired 138,000 Uniti Group shares worth approximately $1.58 million, while institutional investors collectively own 87.51% of the REIT.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $10.92; recent targets range from $9 to $11.75.
• Uniti Group reported quarterly revenue of $909.7 million, beating estimates, but its EPS loss of $0.68 missed expectations. The stock opened at $10.02, with a 52-week range of $5.30 to $12.94.

BTG Pactual Asset Management US LLC acquired a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 138,000 shares of the real estate investment trust's stock, valued at approximately $1,583,000. BTG Pactual Asset Management US LLC owned 0.06% of Uniti Group as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in UNIT. Vanguard Group Inc. increased its holdings in Uniti Group by 38.9% during the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust's stock worth $162,651,000 after purchasing an additional 6,494,001 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Uniti Group by 103.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 14,656,558 shares of the real estate investment trust's stock valued at $102,743,000 after purchasing an additional 7,441,044 shares in the last quarter. State Street Corp lifted its holdings in shares of Uniti Group by 7.9% in the fourth quarter. State Street Corp now owns 7,116,934 shares of the real estate investment trust's stock valued at $49,890,000 after purchasing an additional 523,054 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Uniti Group by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust's stock valued at $23,207,000 after buying an additional 877,911 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Uniti Group by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 4,352,729 shares of the real estate investment trust's stock valued at $30,518,000 after buying an additional 323,845 shares during the last quarter. 87.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Uniti Group from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Wells Fargo & Company increased their price objective on shares of Uniti Group from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 12th. TD Cowen dropped their target price on shares of Uniti Group from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Citigroup boosted their target price on Uniti Group from $9.00 to $11.75 and gave the stock a "neutral" rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Uniti Group in a report on Wednesday, August 19th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $10.92.

Uniti Group Stock Performance

Shares of UNIT stock opened at $10.02 on Monday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 3.70 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's 50-day simple moving average is $10.49 and its two-hundred day simple moving average is $10.19.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings results 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). Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%.The company had revenue of $909.70 million during the quarter, compared to the consensus estimate of $884.82 million. Analysts forecast that Uniti Group Inc. will post -2.09 earnings per share for the current 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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