Prudential Financial Inc. Has $3.24 Million Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

Prudential Financial Inc. grew its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 589,789 shares of the real estate investment trust's stock after purchasing an additional 49,537 shares during the period. Prudential Financial Inc. owned approximately 0.24% of Uniti Group worth $3,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. King Street Capital Management L.P. bought a new stake in Uniti Group in the third quarter valued at $8,798,000. Strategic Financial Concepts LLC boosted its stake in shares of Uniti Group by 449.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust's stock valued at $5,338,000 after purchasing an additional 794,049 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Uniti Group by 136.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust's stock worth $7,501,000 after purchasing an additional 787,319 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Uniti Group by 30.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust's stock worth $10,612,000 after purchasing an additional 446,168 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Uniti Group during the 4th quarter worth about $2,418,000. 87.51% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

UNIT has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted 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 raised 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 report on Monday, February 24th.

Uniti Group Trading Down 5.4 %

Shares of Uniti Group stock traded down $0.25 during trading on Monday, reaching $4.40. The company's stock had a trading volume of 3,307,224 shares, compared to its average volume of 2,693,174. The stock has a 50-day moving average price of $5.29 and a two-hundred day moving average price of $5.52. The stock has a market capitalization of $1.07 billion, a P/E ratio of 10.73 and a beta of 1.57. Uniti Group Inc. has a one year low of $2.57 and a one 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 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 the consensus estimate of $294.59 million. As a group, sell-side analysts anticipate 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.