Charles Schwab Investment Management Inc. Raises Stake in Uniti Group Inc. (NASDAQ:UNIT)

Charles Schwab Investment Management Inc. lifted its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,937,013 shares of the real estate investment trust's stock after buying an additional 62,377 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.25% of Uniti Group worth $43,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Equity Partners raised its stake 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 buying an additional 2,000 shares during the last quarter. Franklin Resources Inc. raised its stake in Uniti Group by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust's stock valued at $572,000 after purchasing an additional 2,328 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Uniti Group by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust's stock valued at $1,402,000 after purchasing an additional 2,397 shares during the last quarter. Inspire Investing LLC raised its stake in Uniti Group by 3.6% in the 4th quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust's stock valued at $405,000 after purchasing an additional 2,563 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in Uniti Group by 35.1% in the 4th quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust's stock valued at $84,000 after purchasing an additional 3,966 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

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Uniti Group Trading Down 3.3 %

Shares of NASDAQ UNIT traded down $0.17 on Tuesday, reaching $4.97. 1,789,443 shares of the company traded hands, compared to its average volume of 2,535,249. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.39. The company has a 50 day moving average of $5.49 and a 200 day moving average of $5.53. The stock has a market capitalization of $1.21 billion, a PE ratio of 12.12 and a beta of 1.70.

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, beating analysts' consensus estimates of $0.33 by $0.02. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The company had revenue of $293.32 million during the quarter, compared to the consensus estimate of $294.59 million. As a group, research analysts expect that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.