UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in Uniti Group Inc. (NASDAQ:UNIT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 683,626 shares of the real estate investment trust's stock after acquiring an additional 94,903 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of Uniti Group worth $3,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in Uniti Group by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust's stock valued at $7,394,000 after purchasing an additional 51,241 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Uniti Group by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust's stock valued at $43,654,000 after purchasing an additional 62,377 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Uniti Group by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust's stock valued at $1,402,000 after buying an additional 2,397 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Uniti Group by 9.2% in the 4th quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust's stock worth $3,244,000 after buying an additional 49,537 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Uniti Group in the 4th quarter worth $2,418,000. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Uniti Group Price Performance

Shares of Uniti Group stock traded up $0.04 during trading on Friday, reaching $4.35. 926,265 shares of the stock traded hands, compared to its average volume of 2,490,241. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.31. The business has a fifty day simple moving average of $4.58 and a two-hundred day simple moving average of $5.20. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.61 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. 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 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Uniti Group Company 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.