Rhumbline Advisers Has $4.29 Million Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Rhumbline Advisers boosted its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 0.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 780,532 shares of the real estate investment trust’s stock after purchasing an additional 5,983 shares during the period. Rhumbline Advisers owned about 0.32% of Uniti Group worth $4,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position 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 in the last quarter. Pacer Advisors Inc. grew its position 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 valued at $10,612,000 after purchasing an additional 446,168 shares in the last quarter. King Street Capital Management L.P. purchased a new position in Uniti Group during the third quarter valued at approximately $8,798,000. Bank of Montreal Can grew its position in Uniti Group by 136.2% during the third quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust’s stock valued at $9,104,000 after purchasing an additional 898,852 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in Uniti Group in the third quarter worth approximately $6,218,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada boosted their target price 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 raised shares of 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 research report on Monday, February 24th.

Uniti Group Trading Up 0.7 %

NASDAQ UNIT opened at $5.74 on Friday. The company has a fifty day simple moving average of $5.56 and a 200 day simple moving average of $5.44. The company has a market cap of $1.40 billion, a P/E ratio of 14.00 and a beta of 1.31. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $293.32 million during the quarter, compared to analysts’ expectations of $294.59 million. Equities research analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

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.