UBS Group AG Buys 75,356 Shares of Uniti Group Inc. $UNIT

UBS Group AG boosted its stake in Uniti Group Inc. (NASDAQ:UNIT) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 695,743 shares of the real estate investment trust’s stock after purchasing an additional 75,356 shares during the period. UBS Group AG owned about 0.47% of Uniti Group worth $4,877,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Uniti Group by 38.9% during the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after acquiring an additional 6,494,001 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Uniti Group by 70.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,427 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 20,060 shares during the last quarter. CWM LLC raised its stake in shares of Uniti Group by 37.5% during the fourth quarter. CWM LLC now owns 14,104 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 3,849 shares during the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of Uniti Group during the fourth quarter valued at $95,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Uniti Group by 10.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 20,302 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 1,956 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Up 1.6%

NASDAQ:UNIT opened at $11.12 on Friday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 3.32 and a beta of 1.44. The firm has a fifty day simple moving average of $10.18 and a two-hundred day simple moving average of $8.28. Uniti Group Inc. has a 12 month low of $5.30 and a 12 month high of $12.39.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $987.50 million during the quarter, compared to analysts’ expectations of $930.08 million. Uniti Group had a net margin of 39.61% and a negative return on equity of 2.52%. The business’s quarterly revenue was up 236.0% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. Equities analysts predict that Uniti Group Inc. will post -1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Uniti Group from $9.00 to $11.75 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of Uniti Group from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Raymond James Financial reissued a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research note on Tuesday, March 3rd. Williams Trading set a $12.00 target price on shares of Uniti Group in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Uniti Group from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.92.

About Uniti Group

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.