Helix Partners Management LP bought a new position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 275,000 shares of the real estate investment trust's stock, valued at approximately $1,512,000. Uniti Group makes up 0.3% of Helix Partners Management LP's holdings, making the stock its 12th largest position. Helix Partners Management LP owned 0.11% of Uniti Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of Uniti Group by 206.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 212,489 shares of the real estate investment trust's stock worth $1,198,000 after purchasing an additional 143,210 shares during the period. Principal Financial Group Inc. increased its position in Uniti Group by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust's stock valued at $7,394,000 after purchasing an additional 51,241 shares during the period. Franklin Resources Inc. raised its position 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Uniti Group by 0.8% in the fourth 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 acquiring an additional 62,377 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Uniti Group by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust's stock worth $1,402,000 after acquiring an additional 2,397 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
UNIT has been the subject of several analyst reports. Raymond James raised Uniti Group from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $6.00 to $8.00 in a report 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.
Read Our Latest Stock Report on UNIT
Uniti Group Price Performance
Shares of UNIT stock traded down $0.05 during trading on Tuesday, hitting $4.35. 985,721 shares of the stock traded hands, compared to its average volume of 2,165,412. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.31. The firm's fifty day moving average price is $5.29 and its 200-day moving average price is $5.52. The firm has a market capitalization of $1.06 billion, a P/E ratio of 10.57 and a beta of 1.57.
Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $293.32 million for the quarter, compared to analyst estimates of $294.59 million. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. As a group, equities research analysts expect that Uniti Group Inc. will post 1.28 earnings per share for the current year.
Uniti Group Company Profile
(
Free Report)
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.
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