Jackson Thornton Wealth Management LLC Takes $503,000 Position in Uniti Group Inc. (NASDAQ:UNIT)

Jackson Thornton Wealth Management LLC bought a new position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 91,495 shares of the real estate investment trust's stock, valued at approximately $503,000.

Several other institutional investors and hedge funds have also recently modified their holdings of UNIT. Thrivent Financial for Lutherans grew its position in Uniti Group by 189.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 576,413 shares of the real estate investment trust's stock valued at $3,251,000 after purchasing an additional 376,964 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Uniti Group by 32.6% in the third quarter. Intech Investment Management LLC now owns 164,605 shares of the real estate investment trust's stock worth $928,000 after buying an additional 40,493 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Uniti Group by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust's stock valued at $44,413,000 after buying an additional 452,411 shares during the last quarter. Cerity Partners LLC increased its position in shares of Uniti Group by 58.7% during the third quarter. Cerity Partners LLC now owns 99,791 shares of the real estate investment trust's stock valued at $563,000 after acquiring an additional 36,907 shares in the last quarter. Finally, Algert Global LLC raised its holdings in Uniti Group by 373.0% in the 3rd quarter. Algert Global LLC now owns 750,321 shares of the real estate investment trust's stock worth $4,232,000 after acquiring an additional 591,678 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

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Uniti Group Stock Up 1.9 %

UNIT traded up $0.09 during mid-day trading on Friday, reaching $4.93. 2,065,368 shares of the company traded hands, compared to its average volume of 2,668,605. The company's fifty day moving average price is $5.39 and its 200-day moving average price is $5.53. The stock has a market capitalization of $1.20 billion, a P/E ratio of 12.02 and a beta of 1.70. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.31.

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. The company had revenue of $293.32 million during the quarter, compared to analysts' expectations of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. As a group, sell-side analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

UNIT has been the topic of several recent analyst reports. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $6.00 to $8.00 in a research note on Monday, February 24th. Royal Bank of Canada increased 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.

About Uniti Group

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.