439,601 Shares in Uniti Group Inc. (NASDAQ:UNIT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 439,601 shares of the real estate investment trust's stock, valued at approximately $2,418,000. Raymond James Financial Inc. owned approximately 0.18% of Uniti Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UNIT. Charles Schwab Investment Management Inc. grew its holdings in Uniti Group by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust's stock valued at $43,654,000 after buying an additional 62,377 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Uniti Group by 30.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust's stock worth $10,612,000 after acquiring an additional 446,168 shares during the period. Bank of New York Mellon Corp lifted its stake in Uniti Group by 5.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,764,803 shares of the real estate investment trust's stock worth $9,706,000 after purchasing an additional 96,245 shares in the last quarter. King Street Capital Management L.P. bought a new position in Uniti Group in the 3rd quarter valued at $8,798,000. Finally, Bank of Montreal Can grew its position in shares of Uniti Group by 136.2% during the 3rd quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust's stock valued at $9,104,000 after purchasing an additional 898,852 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Trading Up 0.4 %

Shares of Uniti Group stock traded up $0.02 on Wednesday, hitting $5.24. 1,524,862 shares of the company traded hands, compared to its average volume of 2,673,545. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31. The firm's 50-day simple moving average is $5.35 and its 200 day simple moving average is $5.53. The company has a market cap of $1.28 billion, a P/E ratio of 12.78 and a beta of 1.70.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $293.32 million during 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%. Analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UNIT has been the subject of several research analyst reports. Raymond James raised Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $6.00 to $8.00 in a research note on Monday, February 24th. Royal Bank of Canada boosted their price objective on Uniti Group from $5.50 to $6.00 and gave the stock a "sector perform" rating in a report on Monday, December 23rd.

Uniti Group Company 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.