Michels Family Financial LLC Acquires New Stake in Uniti Group Inc. (NASDAQ:UNIT)

Michels Family Financial LLC bought a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 101,545 shares of the real estate investment trust's stock, valued at approximately $558,000.

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

Wall Street Analyst Weigh In

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

Uniti Group Price Performance

Uniti Group stock traded down $0.06 during trading hours on Thursday, hitting $4.36. The stock had a trading volume of 754,314 shares, compared to its average volume of 2,508,036. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.31. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.62 and a beta of 1.59. The stock's fifty day moving average is $4.65 and its two-hundred day moving average is $5.26.

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

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.