Vanguard Group Inc. Has $202.65 Million Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Vanguard Group Inc. decreased its position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,845,664 shares of the real estate investment trust's stock after selling 78,341 shares during the period. Vanguard Group Inc. owned 15.09% of Uniti Group worth $202,651,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in UNIT. King Street Capital Management L.P. bought a new position in Uniti Group in the third quarter valued at about $8,798,000. Strategic Financial Concepts LLC boosted its holdings in Uniti Group by 449.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust's stock valued at $5,338,000 after acquiring an additional 794,049 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Uniti Group by 136.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust's stock valued at $7,501,000 after acquiring an additional 787,319 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Uniti Group by 30.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust's stock worth $10,612,000 after buying an additional 446,168 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Uniti Group during the fourth quarter worth about $2,418,000. Institutional investors own 87.51% of the company's stock.

Wall Street Analyst Weigh In

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

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Uniti Group Stock Performance

UNIT traded down $0.12 during midday trading on Thursday, reaching $4.30. 288,136 shares of the company were exchanged, compared to its average volume of 2,206,588. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.31. The stock has a market capitalization of $1.05 billion, a P/E ratio of 10.49 and a beta of 1.57. The stock's 50-day simple moving average is $5.20 and its 200 day simple moving average is $5.49.

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 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The company had revenue of $293.32 million for the quarter, compared to analyst estimates of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. On average, research analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current 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.