Charles Schwab Investment Management Inc. Buys 62,377 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Charles Schwab Investment Management Inc. grew its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,937,013 shares of the real estate investment trust’s stock after buying an additional 62,377 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.25% of Uniti Group worth $43,654,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new stake in shares of Uniti Group in the fourth quarter worth about $68,000. Bank of New York Mellon Corp lifted its holdings in shares of Uniti Group by 5.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,764,803 shares of the real estate investment trust’s stock valued at $9,706,000 after purchasing an additional 96,245 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Uniti Group during the fourth quarter valued at approximately $71,000. Ieq Capital LLC lifted its holdings in shares of Uniti Group by 18.7% during the fourth quarter. Ieq Capital LLC now owns 29,201 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 4,601 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Uniti Group by 7.4% in the 4th quarter. New York State Common Retirement Fund now owns 64,210 shares of the real estate investment trust’s stock worth $353,000 after acquiring an additional 4,400 shares during the last quarter. 87.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective 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. Raymond James raised shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $6.00 to $8.00 in a research report on Monday, February 24th.

Uniti Group Stock Performance

UNIT opened at $4.95 on Friday. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.39. The firm’s fifty day moving average is $5.50 and its 200 day moving average is $5.51. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 12.07 and a beta of 1.70.

Uniti Group (NASDAQ:UNIT) last released its 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 company had revenue of $293.32 million for the quarter, compared to analysts’ expectations of $294.59 million. On average, equities research analysts predict 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.