JPMorgan Chase & Co. Grows Position in Uniti Group Inc. (NASDAQ:UNIT)

JPMorgan Chase & Co. raised its holdings in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 42.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,787,257 shares of the real estate investment trust's stock after acquiring an additional 529,050 shares during the quarter. JPMorgan Chase & Co. owned about 0.73% of Uniti Group worth $9,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings 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 in the last quarter. Franklin Resources Inc. increased its stake in Uniti Group by 2.2% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 worth $43,654,000 after buying an additional 62,377 shares during the period. State of Alaska Department of Revenue raised its position in shares of Uniti Group by 0.9% during 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 purchasing an additional 2,397 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Uniti Group by 9.2% during the fourth quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust's stock worth $3,244,000 after acquiring an additional 49,537 shares during the period. Institutional investors and hedge funds own 87.51% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Uniti Group Price Performance

UNIT traded down $0.06 during trading on Wednesday, hitting $4.56. 1,990,377 shares of the stock traded hands, compared to its average volume of 2,729,544. The business has a 50 day moving average price of $5.12 and a 200 day moving average price of $5.46. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 11.12 and a beta of 1.57. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.31.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 8.82% and a negative return on equity of 4.12%. On average, equities research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current year.

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.