12,945 Shares in Uniti Group Inc. (NASDAQ:UNIT) Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB purchased a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,945 shares of the real estate investment trust’s stock, valued at approximately $71,000.

A number of other hedge funds also recently made changes to their positions in the business. Pitcairn Co. acquired a new stake in shares of Uniti Group during the 3rd quarter valued at about $69,000. Virtu Financial LLC acquired a new stake in Uniti Group during the third quarter valued at approximately $70,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Uniti Group in the 3rd quarter valued at approximately $74,000. Belvedere Trading LLC acquired a new position in shares of Uniti Group in the 3rd quarter worth approximately $76,000. Finally, Diversified Trust Co bought a new position in shares of Uniti Group during the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on UNIT. Raymond James upgraded Uniti Group from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $6.00 to $8.00 in a research report on Monday, February 24th. Royal Bank of Canada upped their target price on shares of Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Monday, December 23rd.

Uniti Group Trading Down 1.9 %

Shares of NASDAQ UNIT opened at $5.63 on Tuesday. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71. The company has a 50-day moving average of $5.56 and a two-hundred day moving average of $5.48. The company has a market cap of $1.38 billion, a PE ratio of 13.73 and a beta of 1.31.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating 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 business had revenue of $293.32 million during the quarter, compared to analyst estimates of $294.59 million. As a group, equities research analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current 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.