Northern Trust Corp Has $15.12 Million Stake in Uniti Group Inc. (NASDAQ:UNIT)

Northern Trust Corp raised its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,748,895 shares of the real estate investment trust's stock after acquiring an additional 295,104 shares during the period. Northern Trust Corp owned about 1.13% of Uniti Group worth $15,119,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in Uniti Group by 0.8% in the fourth 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 acquiring an additional 62,377 shares during the period. Geode Capital Management LLC grew its position in Uniti Group by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust's stock valued at $34,754,000 after acquiring an additional 101,702 shares during the period. Pacer Advisors Inc. grew its position in Uniti Group by 30.1% in 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 period. JPMorgan Chase & Co. grew its position in Uniti Group by 42.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,787,257 shares of the real estate investment trust's stock valued at $9,830,000 after acquiring an additional 529,050 shares during the period. Finally, Bank of New York Mellon Corp grew its position in 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. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Stock Down 2.4%

Shares of UNIT opened at $4.38 on Thursday. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31. The firm has a market capitalization of $1.08 billion, a PE ratio of 10.68 and a beta of 1.59. The stock's fifty day simple moving average is $4.72 and its 200-day simple moving average is $5.31.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $295.39 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on UNIT shares. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $6.00 to $8.00 in a report on Monday, February 24th. 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 report on Thursday, May 8th. Finally, Citigroup reaffirmed a "neutral" rating and set a $5.30 price target on shares of Uniti Group in a research note on Friday, May 16th.

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.