Teacher Retirement System of Texas Purchases Shares of 53,430 Uniti Group Inc. (NASDAQ:UNIT)

Teacher Retirement System of Texas purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 53,430 shares of the real estate investment trust's stock, valued at approximately $294,000.

A number of other hedge funds have also made changes to their positions in the business. Signaturefd LLC grew its position in shares of Uniti Group by 51.3% in the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 2,870 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Uniti Group during the fourth quarter worth approximately $68,000. Virtu Financial LLC purchased a new position in shares of Uniti Group during the third quarter worth approximately $70,000. Handelsbanken Fonder AB acquired a new position in shares of Uniti Group in the 4th quarter valued at $71,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Uniti Group in the 3rd quarter valued at $74,000. Hedge funds and other institutional investors own 87.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. 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. Raymond James upgraded shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $6.00 to $8.00 in a research report on Monday, February 24th.

Uniti Group Price Performance

Uniti Group stock traded down $0.29 during mid-day trading on Friday, hitting $4.65. 3,337,340 shares of the company were exchanged, compared to its average volume of 2,690,718. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31. The business's 50 day simple moving average is $5.31 and its two-hundred day simple moving average is $5.53. The company has a market capitalization of $1.14 billion, a P/E ratio of 11.34 and a beta of 1.70.

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

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.