Michels Family Financial LLC Takes Position in Uniti Group Inc. (NASDAQ:UNIT)

Michels Family Financial LLC purchased a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 101,545 shares of the real estate investment trust's stock, valued at approximately $558,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC boosted its stake in Uniti Group by 51.3% during the fourth quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock worth $47,000 after buying an additional 2,870 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Uniti Group in the 4th quarter worth approximately $68,000. Handelsbanken Fonder AB purchased a new position in shares of Uniti Group during the 4th quarter worth approximately $71,000. Ballentine Partners LLC boosted its position in shares of Uniti Group by 35.1% during the 4th quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust's stock worth $84,000 after purchasing an additional 3,966 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Uniti Group by 20.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,376 shares of the real estate investment trust's stock valued at $90,000 after purchasing an additional 2,790 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

Uniti Group Trading Up 0.2%

NASDAQ:UNIT traded up $0.01 during midday trading on Wednesday, reaching $4.41. The company had a trading volume of 1,952,819 shares, compared to its average volume of 2,517,036. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.76 and a beta of 1.59. The stock's fifty day simple moving average is $4.66 and its 200-day simple moving average is $5.27.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.35. The company had revenue of $293.91 million for the quarter, compared to analyst estimates of $295.39 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. Uniti Group's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. As a group, sell-side analysts expect that Uniti Group Inc. will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on UNIT. Wells Fargo & Company decreased their price target on Uniti Group from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Citigroup reiterated a "neutral" rating and issued a $5.30 price objective on shares of Uniti Group in a report on Friday, May 16th. Finally, Raymond James upgraded shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $6.00 to $8.00 in a report on Monday, February 24th.

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.