Resona Asset Management Co. Ltd. Invests $520,000 in Uniti Group Inc. (NASDAQ:UNIT)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 96,881 shares of the real estate investment trust's stock, valued at approximately $520,000.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in 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 valued at $7,394,000 after buying an additional 51,241 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of 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 worth $572,000 after purchasing an additional 2,328 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 62,377 shares in the last quarter. State of Alaska Department of Revenue raised its stake in 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 valued at $1,402,000 after purchasing an additional 2,397 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Uniti Group by 9.2% during the 4th quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust's stock valued at $3,244,000 after buying an additional 49,537 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

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Uniti Group Price Performance

Uniti Group stock traded down $0.04 during mid-day trading on Wednesday, reaching $4.59. 229,676 shares of the company traded hands, compared to its average volume of 2,716,587. The firm's fifty day moving average is $5.12 and its two-hundred day moving average is $5.46. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.18 and a beta of 1.57. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The firm had revenue of $293.32 million during the quarter, compared to the consensus estimate of $294.59 million. As a group, equities research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Raymond James raised shares of 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 lifted their target price 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 Company 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.