Uniti Group Inc. (NASDAQ:UNIT) Shares Acquired by Sona Asset Management US LLC

Sona Asset Management US LLC grew its holdings in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 100.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,200,000 shares of the real estate investment trust's stock after purchasing 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.

Several other hedge funds and other institutional investors have also made changes to their positions in UNIT. Franklin Resources Inc. boosted its stake in shares of 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 valued at $572,000 after purchasing an additional 2,328 shares during the period. Ballentine Partners LLC boosted its stake in shares of Uniti Group by 35.1% in the fourth quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust's stock valued at $84,000 after purchasing an additional 3,966 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Uniti Group by 8.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 160,311 shares of the real estate investment trust's stock valued at $882,000 after purchasing an additional 13,135 shares during the period. Inspire Investing LLC boosted its stake in shares of Uniti Group by 3.6% in the fourth quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust's stock valued at $405,000 after purchasing an additional 2,563 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of 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 purchasing an additional 446,168 shares during the period. Hedge funds and other institutional investors own 87.51% of the company's stock.

Uniti Group Stock Down 1.9%

Uniti Group stock traded down $0.09 during trading on Monday, reaching $4.55. The stock had a trading volume of 2,976,634 shares, compared to its average volume of 2,526,215. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.31. The business has a 50 day moving average price of $4.74 and a 200 day moving average price of $5.32. The stock has a market cap of $1.12 billion, a PE ratio of 11.10 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings data 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. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The company had revenue of $293.91 million for the quarter, compared to analysts' expectations of $295.39 million. During the same quarter last year, the company earned $0.32 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts predict that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on UNIT. Raymond James raised shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $6.00 to $8.00 in a research note on Monday, February 24th. Citigroup reiterated a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a research note on Friday. Finally, Wells Fargo & Company decreased their price target on shares of Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Thursday, May 8th.

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.