JPMorgan Chase & Co. Buys 529,050 Shares of Uniti Group Inc. (NASDAQ:UNIT)

JPMorgan Chase & Co. grew its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 42.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,787,257 shares of the real estate investment trust's stock after purchasing an additional 529,050 shares during the period. JPMorgan Chase & Co. owned approximately 0.73% of Uniti Group worth $9,830,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UNIT. Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 62,377 shares during the period. Pacer Advisors Inc. increased its position in Uniti Group by 30.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust's stock valued at $10,612,000 after acquiring an additional 446,168 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Uniti Group by 5.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,764,803 shares of the real estate investment trust's stock valued at $9,706,000 after acquiring an additional 96,245 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Uniti Group by 136.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust's stock valued at $7,501,000 after acquiring an additional 787,319 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Uniti Group by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust's stock worth $7,394,000 after acquiring an additional 51,241 shares during the last quarter. 87.51% of the stock is owned by institutional investors.

Uniti Group Stock Up 4.1 %

NASDAQ:UNIT traded up $0.19 during midday trading on Friday, hitting $4.75. The stock had a trading volume of 1,796,066 shares, compared to its average volume of 2,746,724. The stock has a 50-day moving average of $5.07 and a 200 day moving average of $5.44. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.57 and a beta of 1.57. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.31.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. On average, sell-side analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UNIT has been the topic of a number of recent analyst reports. Raymond James raised shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $6.00 to $8.00 in a research report on Monday, February 24th. Royal Bank of Canada boosted their target price on shares of Uniti Group from $5.50 to $6.00 and gave the company a "sector perform" rating in a research note on Monday, December 23rd.

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.