Voloridge Investment Management LLC Acquires 175,308 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Voloridge Investment Management LLC lifted its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 52.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 510,504 shares of the real estate investment trust's stock after buying an additional 175,308 shares during the period. Voloridge Investment Management LLC owned about 0.21% of Uniti Group worth $2,808,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of UNIT. Nisa Investment Advisors LLC raised its holdings in shares of Uniti Group by 8.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 160,311 shares of the real estate investment trust's stock valued at $882,000 after buying an additional 13,135 shares in the last quarter. Pacer Advisors Inc. increased its stake in Uniti Group by 30.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust's stock worth $10,612,000 after purchasing an additional 446,168 shares during the period. EMC Capital Management increased its stake in Uniti Group by 462.2% in the 4th quarter. EMC Capital Management now owns 37,391 shares of the real estate investment trust's stock worth $206,000 after purchasing an additional 30,740 shares during the period. Golden State Equity Partners increased its stake in Uniti Group by 9.5% in the 4th quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust's stock worth $127,000 after purchasing an additional 2,000 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Uniti Group by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust's stock worth $1,402,000 after purchasing an additional 2,397 shares during the period. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Trading Down 2.5%

NASDAQ UNIT traded down $0.11 during trading on Friday, hitting $4.30. The company had a trading volume of 1,835,670 shares, compared to its average volume of 2,509,478. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.31. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 10.49 and a beta of 1.59. The company's fifty day moving average is $4.64 and its 200-day moving average is $5.25.

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

Analyst Upgrades and Downgrades

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

About Uniti Group

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.