Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by Vestcor Inc

Vestcor Inc lessened its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 34.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,050 shares of the real estate investment trust's stock after selling 107,447 shares during the period. Vestcor Inc owned about 0.08% of Uniti Group worth $1,128,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in UNIT. Mizuho Markets Americas LLC raised its holdings in Uniti Group by 548.9% in the third quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust's stock valued at $4,467,000 after acquiring an additional 670,000 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Uniti Group by 189.0% during the third quarter. Thrivent Financial for Lutherans now owns 576,413 shares of the real estate investment trust's stock valued at $3,251,000 after purchasing an additional 376,964 shares during the last quarter. Intech Investment Management LLC increased its stake in Uniti Group by 32.6% during the third quarter. Intech Investment Management LLC now owns 164,605 shares of the real estate investment trust's stock valued at $928,000 after purchasing an additional 40,493 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Uniti Group by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust's stock valued at $44,413,000 after purchasing an additional 452,411 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in Uniti Group by 58.7% during the third quarter. Cerity Partners LLC now owns 99,791 shares of the real estate investment trust's stock valued at $563,000 after purchasing an additional 36,907 shares during the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

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Uniti Group Stock Performance

Shares of Uniti Group stock traded up $0.07 during trading on Wednesday, hitting $5.04. 1,803,763 shares of the stock were exchanged, compared to its average volume of 2,539,192. The stock has a market cap of $1.23 billion, a PE ratio of 12.29 and a beta of 1.70. The stock's fifty day moving average is $5.48 and its 200 day moving average is $5.54. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.39.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $293.32 million during the quarter, compared to the consensus estimate of $294.59 million. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. Sell-side analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UNIT has been the subject of several recent research reports. Royal Bank of Canada upped their price target on shares of Uniti Group from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, December 23rd. Raymond James upgraded shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $6.00 to $8.00 in a research 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.