Thrivent Financial for Lutherans Grows Position in Uniti Group Inc. (NASDAQ:UNIT)

Thrivent Financial for Lutherans grew its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 136.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,363,732 shares of the real estate investment trust's stock after acquiring an additional 787,319 shares during the period. Thrivent Financial for Lutherans owned about 0.56% of Uniti Group worth $7,501,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in Uniti Group by 51.3% during the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 2,870 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Uniti Group during the fourth quarter worth about $68,000. Pitcairn Co. acquired a new stake in shares of Uniti Group during the third quarter worth about $69,000. Virtu Financial LLC purchased a new position in shares of Uniti Group in the third quarter valued at approximately $70,000. Finally, Handelsbanken Fonder AB acquired a new position in shares of Uniti Group in the fourth quarter valued at approximately $71,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Price Performance

Shares of UNIT stock traded down $0.16 during trading hours on Thursday, reaching $4.84. 1,749,804 shares of the stock were exchanged, compared to its average volume of 2,567,618. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31. The business's fifty day moving average is $5.43 and its two-hundred day moving average is $5.54. The firm has a market capitalization of $1.18 billion, a P/E ratio of 11.81 and a beta of 1.70.

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Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm 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, equities research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.