Sona Asset Management US LLC Boosts Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

Sona Asset Management US LLC lifted its position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 100.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,200,000 shares of the real estate investment trust's stock after acquiring an additional 600,000 shares during the quarter. Sona Asset Management US LLC owned 0.49% of Uniti Group worth $6,600,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in UNIT. Franklin Resources Inc. lifted its stake in Uniti Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust's stock worth $572,000 after purchasing an additional 2,328 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Uniti Group by 35.1% during the 4th quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust's stock worth $84,000 after acquiring an additional 3,966 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake 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 worth $882,000 after acquiring an additional 13,135 shares during the last quarter. Inspire Investing LLC boosted its holdings in Uniti Group by 3.6% during the 4th quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust's stock valued at $405,000 after acquiring an additional 2,563 shares during the period. Finally, Pacer Advisors Inc. grew its position 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 valued at $10,612,000 after acquiring an additional 446,168 shares during the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Trading Down 2.6%

NASDAQ UNIT traded down $0.12 on Wednesday, hitting $4.38. 842,900 shares of the company's stock traded hands, compared to its average volume of 2,520,168. The firm's 50-day moving average price is $4.73 and its two-hundred day moving average price is $5.32. The firm has a market capitalization of $1.07 billion, a PE ratio of 10.67 and a beta of 1.59. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.31.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Raymond James raised shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $6.00 to $8.00 in a research note on Monday, February 24th. 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. Finally, Citigroup reaffirmed 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 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.