Amundi Buys 75,438 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Amundi grew its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 175.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,420 shares of the real estate investment trust's stock after purchasing an additional 75,438 shares during the quarter. Amundi's holdings in Uniti Group were worth $643,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Uniti Group by 20.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,376 shares of the real estate investment trust's stock valued at $90,000 after acquiring an additional 2,790 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Uniti Group in the 4th quarter valued at $2,418,000. Arizona State Retirement System grew its holdings in shares of Uniti Group by 3.6% during the 4th quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust's stock valued at $389,000 after purchasing an additional 2,460 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Uniti Group in the 4th quarter worth $68,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Uniti Group by 0.8% in the fourth 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 purchasing an additional 62,377 shares during the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Price Performance

UNIT traded up $0.10 during trading on Monday, hitting $5.09. 2,129,072 shares of the stock traded hands, compared to its average volume of 2,563,002. The firm has a market capitalization of $1.24 billion, a P/E ratio of 12.41 and a beta of 1.70. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31. The firm has a 50-day moving average of $5.46 and a 200 day moving average of $5.55.

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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 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 company had revenue of $293.32 million during the quarter, compared to analyst estimates of $294.59 million. As a group, equities analysts predict that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UNIT has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Uniti Group from $5.50 to $6.00 and gave the company a "sector perform" rating in a research note on Monday, December 23rd. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $6.00 to $8.00 in a research report on Monday, February 24th.

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.