ExodusPoint Capital Management LP Invests $1.15 Million in Uniti Group Inc. (NASDAQ:UNIT)

ExodusPoint Capital Management LP bought a new position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 209,253 shares of the real estate investment trust's stock, valued at approximately $1,151,000. ExodusPoint Capital Management LP owned approximately 0.09% of Uniti Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in UNIT. Principal Financial Group Inc. boosted its stake in shares of Uniti Group by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust's stock worth $7,394,000 after buying an additional 51,241 shares during the period. Franklin Resources Inc. grew its holdings in shares of 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 worth $572,000 after acquiring an additional 2,328 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Uniti Group by 0.8% in 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 purchasing an additional 62,377 shares in the last quarter. State of Alaska Department of Revenue increased 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 in the last quarter. Finally, King Street Capital Management L.P. acquired a new position in shares of Uniti Group during the 3rd quarter worth $8,798,000. Institutional investors and hedge funds own 87.51% of the company's stock.

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Uniti Group Stock Up 0.9 %

Shares of UNIT traded up $0.04 on Friday, hitting $4.30. 1,725,932 shares of the stock traded hands, compared to its average volume of 2,717,543. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.31. The stock's 50 day moving average is $5.16 and its two-hundred day moving average is $5.47. The firm has a market capitalization of $1.05 billion, a P/E ratio of 10.49 and a beta of 1.57.

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 for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The company had revenue of $293.32 million for 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%. Research analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on UNIT shares. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $6.00 to $8.00 in a research report on Monday, February 24th. Royal Bank of Canada upped their price objective on Uniti Group from $5.50 to $6.00 and gave the company a "sector perform" rating in a research report 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.