Dimensional Fund Advisors LP Trims Position in Uniti Group Inc. $UNIT

Key Points

• Dimensional Fund Advisors cut its Uniti Group stake by 28.1% in the first quarter, selling 521,014 shares and retaining 1.33 million shares worth approximately $12.5 million. Institutional investors collectively own 87.51% of UNIT.
• Uniti Group reported a quarterly loss of $0.68 per share, missing the $0.45 consensus estimate, although revenue of $909.7 million exceeded expectations of $884.8 million. Analysts expect a full-year loss of approximately $2.09 per share.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $10.92 versus the stock’s reported price of $9.54.

Dimensional Fund Advisors LP trimmed its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,330,830 shares of the real estate investment trust's stock after selling 521,014 shares during the period. Dimensional Fund Advisors LP owned approximately 0.55% of Uniti Group worth $12,472,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Uniti Group by 38.9% in the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust's stock worth $162,651,000 after acquiring an additional 6,494,001 shares during the period. Hsbc Holdings PLC acquired a new position in Uniti Group during the first quarter valued at $1,781,000. Mizuho Markets Americas LLC lifted its position in Uniti Group by 38.2% during the fourth quarter. Mizuho Markets Americas LLC now owns 398,246 shares of the real estate investment trust's stock valued at $2,792,000 after purchasing an additional 110,000 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Uniti Group in the first quarter valued at $746,000. Finally, UBS Group AG boosted its holdings in Uniti Group by 12.1% in the fourth quarter. UBS Group AG now owns 695,743 shares of the real estate investment trust's stock valued at $4,877,000 after purchasing an additional 75,356 shares during the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $9.54 on Friday. The company has a market capitalization of $2.32 billion, a PE ratio of 3.52 and a beta of 1.40. The company's fifty day moving average price is $11.06 and its 200 day moving average price is $9.95. Uniti Group Inc. has a 1 year low of $5.30 and a 1 year high of $12.94.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share 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 analysts' expectations of $884.82 million. Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. On average, equities analysts expect that Uniti Group Inc. will post -2.09 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on UNIT. TD Cowen cut their price target on Uniti Group from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Barclays boosted their price objective on Uniti Group from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. lowered their target price on Uniti Group from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, July 31st. Wells Fargo & Company raised their target price on Uniti Group from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 12th. Finally, UBS Group set a $12.00 price target on Uniti Group in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.92.

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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