Geode Capital Management LLC Has $34.75 Million Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Geode Capital Management LLC grew its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 6,317,569 shares of the real estate investment trust's stock after acquiring an additional 101,702 shares during the quarter. Geode Capital Management LLC owned about 2.59% of Uniti Group worth $34,754,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of UNIT. Golden State Equity Partners boosted its position in shares of Uniti Group by 9.5% during the 4th quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust's stock worth $127,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Uniti Group by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust's stock worth $572,000 after buying an additional 2,328 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Uniti Group by 0.9% in the fourth 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 acquiring an additional 2,397 shares during the last quarter. Arizona State Retirement System lifted its stake in Uniti Group by 3.6% in the 4th quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust's stock valued at $389,000 after purchasing an additional 2,460 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of 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 in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James raised Uniti Group from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $6.00 to $8.00 in a research note on Monday, February 24th. Royal Bank of Canada upped their price target on shares of Uniti Group from $5.50 to $6.00 and gave the company a "sector perform" rating in a research report on Monday, December 23rd.

Uniti Group Stock Up 1.8 %

UNIT traded up $0.08 during midday trading on Tuesday, hitting $4.65. 2,073,842 shares of the company were exchanged, compared to its average volume of 2,748,210. The firm has a market capitalization of $1.14 billion, a P/E ratio of 11.34 and a beta of 1.57. The firm's 50 day moving average price is $5.04 and its 200-day moving average price is $5.43. 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 posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The company had revenue of $293.32 million for the quarter, compared to analyst estimates 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 predict that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

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.