Maridea Wealth Management LLC Takes $460,000 Position in Uniti Group Inc. (NASDAQ:UNIT)

Maridea Wealth Management LLC purchased a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 83,675 shares of the real estate investment trust's stock, valued at approximately $460,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UNIT. BNP Paribas Financial Markets grew its holdings in Uniti Group by 206.7% during 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 acquiring an additional 143,210 shares in the last quarter. Principal Financial Group Inc. raised its stake in Uniti Group by 4.0% in the fourth 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 buying an additional 51,241 shares in the last quarter. Franklin Resources Inc. raised 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 buying an additional 2,328 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Uniti Group by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust's stock worth $44,413,000 after buying an additional 452,411 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Uniti Group by 0.9% during the 4th 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. Hedge funds and other institutional investors own 87.51% of the company's stock.

Analyst Upgrades and Downgrades

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

Uniti Group Trading Up 0.8 %

UNIT stock traded up $0.04 on Wednesday, hitting $5.26. The company's stock had a trading volume of 604,251 shares, compared to its average volume of 2,666,404. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 12.83 and a beta of 1.70. The firm has a 50 day moving average of $5.36 and a two-hundred day moving average of $5.53. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.31.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its earnings results 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 business had revenue of $293.32 million during the quarter, compared to analysts' expectations of $294.59 million. As a group, equities analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

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.