Intech Investment Management LLC Has $706,000 Stock Position in Uniti Group Inc. $UNIT

Intech Investment Management LLC reduced its position in Uniti Group Inc. (NASDAQ:UNIT) by 55.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 100,757 shares of the real estate investment trust’s stock after selling 125,230 shares during the period. Intech Investment Management LLC’s holdings in Uniti Group were worth $706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Osaic Holdings Inc. increased its stake in shares of Uniti Group by 20.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,795 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Uniti Group in the 3rd quarter valued at $75,000. IFP Advisors Inc increased its stake in shares of Uniti Group by 461.4% in the 3rd quarter. IFP Advisors Inc now owns 13,485 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 11,083 shares during the period. Voisard Asset Management Group Inc. acquired a new stake in shares of Uniti Group in the 4th quarter valued at $95,000. Finally, CWM LLC increased its stake in shares of Uniti Group by 37.5% in the 4th quarter. CWM LLC now owns 14,104 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 3,849 shares during the period. 87.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James Financial restated a “strong-buy” rating and issued a $11.00 price target on shares of Uniti Group in a research report on Tuesday, March 3rd. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Wells Fargo & Company raised their price target on Uniti Group from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Barclays raised their price target on Uniti Group from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Finally, Citigroup raised their price target on Uniti Group from $9.00 to $11.75 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.92.

Uniti Group Trading Down 1.6%

Shares of Uniti Group stock opened at $11.49 on Tuesday. The company has a market capitalization of $2.79 billion, a PE ratio of 3.43 and a beta of 1.40. Uniti Group Inc. has a 12 month low of $5.30 and a 12 month high of $12.39. The stock’s fifty day simple moving average is $11.02 and its 200 day simple moving average is $8.70.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. The business had revenue of $987.50 million for the quarter, compared to the consensus estimate of $930.08 million. Uniti Group had a negative return on equity of 2.52% and a net margin of 39.61%.The firm’s revenue was up 236.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. Analysts predict that Uniti Group Inc. will post -1.56 EPS for the current fiscal year.

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.