Charles Schwab Investment Management Inc. reduced its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 4.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,551,034 shares of the real estate investment trust's stock after selling 385,979 shares during the period. Charles Schwab Investment Management Inc. owned about 3.08% of Uniti Group worth $38,057,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its holdings in shares of Uniti Group by 23.2% in the fourth quarter. Russell Investments Group Ltd. now owns 22,814 shares of the real estate investment trust's stock valued at $125,000 after acquiring an additional 4,293 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Uniti Group in the fourth quarter valued at approximately $2,418,000. Barclays PLC grew its holdings in shares of Uniti Group by 6.3% in the fourth quarter. Barclays PLC now owns 462,337 shares of the real estate investment trust's stock valued at $2,543,000 after acquiring an additional 27,232 shares in the last quarter. Natixis grew its holdings in shares of Uniti Group by 42.9% in the fourth quarter. Natixis now owns 839,099 shares of the real estate investment trust's stock valued at $4,615,000 after acquiring an additional 251,940 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Uniti Group by 8.2% in the fourth quarter. MetLife Investment Management LLC now owns 146,093 shares of the real estate investment trust's stock valued at $804,000 after acquiring an additional 11,127 shares in the last quarter. 87.51% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on UNIT shares. Wells Fargo & Company upped their target price on Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Citigroup reissued a "neutral" rating and set a $5.30 price objective on shares of Uniti Group in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Uniti Group has an average rating of "Hold" and an average target price of $6.70.
Check Out Our Latest Report on Uniti Group
Uniti Group Trading Down 1.9%
Shares of NASDAQ UNIT opened at $6.25 on Tuesday. The stock has a fifty day simple moving average of $5.11 and a two-hundred day simple moving average of $4.98. Uniti Group Inc. has a 1-year low of $6.16 and a 1-year high of $12.62. The firm has a market cap of $924.90 million, a price-to-earnings ratio of 22.72 and a beta of 1.47.
Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). The firm had revenue of $300.73 million for the quarter, compared to the consensus estimate of $304.06 million. Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. Uniti Group's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.34 earnings per share. Analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current year.
Uniti Group Company Profile
(
Free Report)
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.
Further Reading
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