Teacher Retirement System of Texas Increases Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Teacher Retirement System of Texas grew its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 309.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,813 shares of the real estate investment trust's stock after purchasing an additional 165,383 shares during the period. Teacher Retirement System of Texas owned approximately 0.09% of Uniti Group worth $1,103,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Uniti Group by 10.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,834 shares of the real estate investment trust's stock worth $137,000 after acquiring an additional 2,447 shares in the last quarter. Arizona State Retirement System raised its position in Uniti Group by 3.6% in the fourth quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust's stock worth $389,000 after acquiring an additional 2,460 shares in the last quarter. 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. Signaturefd LLC raised its position in Uniti Group by 51.3% in the fourth quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 2,870 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Uniti Group by 3.0% in the fourth quarter. Franklin Resources Inc. now owns 109,243 shares of the real estate investment trust's stock worth $601,000 after acquiring an additional 3,139 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on UNIT. Wells Fargo & Company cut their price objective on Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Citigroup reiterated a "neutral" rating and issued a $5.30 price objective on shares of Uniti Group in a research report on Friday, May 16th.

Uniti Group Trading Up 4.7%

Shares of UNIT stock traded up $0.22 during mid-day trading on Thursday, reaching $4.87. The stock had a trading volume of 2,742,459 shares, compared to its average volume of 2,333,292. Uniti Group Inc. has a 12-month low of $3.49 and a 12-month high of $6.31. The company has a market cap of $1.20 billion, a P/E ratio of 18.73 and a beta of 1.46. The business has a 50-day simple moving average of $4.37 and a 200 day simple moving average of $4.90.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting analysts' consensus estimates of $0.35. Uniti Group had a negative return on equity of 2.60% and a net margin of 5.45%. The business had revenue of $293.91 million during the quarter, compared to analysts' expectations of $295.39 million. During the same quarter last year, the business posted $0.32 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. Research 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.