Penn Capital Management Company LLC Takes Position in Uniti Group Inc. $UNIT

Penn Capital Management Company LLC purchased a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,268,710 shares of the real estate investment trust’s stock, valued at approximately $8,900,000. Penn Capital Management Company LLC owned 0.86% of Uniti Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of UNIT. Mizuho Markets Americas LLC boosted its stake in Uniti Group by 38.2% during the fourth quarter. Mizuho Markets Americas LLC now owns 398,246 shares of the real estate investment trust’s stock valued at $2,792,000 after buying an additional 110,000 shares in the last quarter. ProShare Advisors LLC boosted its stake in Uniti Group by 18.4% during the fourth quarter. ProShare Advisors LLC now owns 32,659 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 5,080 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Uniti Group during the fourth quarter valued at about $148,000. Pictet Asset Management Holding SA boosted its stake in Uniti Group by 20.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 27,827 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 4,667 shares in the last quarter. Finally, UBS Group AG boosted its stake in Uniti Group by 12.1% during the fourth quarter. UBS Group AG now owns 695,743 shares of the real estate investment trust’s stock valued at $4,877,000 after buying an additional 75,356 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Stock Up 2.1%

NASDAQ:UNIT opened at $11.27 on Wednesday. Uniti Group Inc. has a 1-year low of $5.30 and a 1-year high of $12.39. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 3.36 and a beta of 1.44. The stock has a fifty day simple moving average of $10.37 and a 200 day simple moving average of $8.38.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research note on Tuesday, March 3rd. UBS Group set a $12.00 target price on Uniti Group in a research note on Tuesday, May 12th. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Royal Bank Of Canada raised their target price on Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a research note on Monday, April 13th. Finally, Barclays raised their target price on Uniti Group from $8.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Uniti Group currently has a consensus rating of “Hold” and a consensus 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.