Swiss National Bank Grows Position in Uniti Group Inc. (NASDAQ:UNIT)

Swiss National Bank boosted its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 480,174 shares of the real estate investment trust’s stock after buying an additional 16,900 shares during the quarter. Swiss National Bank owned 0.20% of Uniti Group worth $2,641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of UNIT. Charles Schwab Investment Management Inc. raised its holdings in shares of Uniti Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust’s stock valued at $43,654,000 after purchasing an additional 62,377 shares during the last quarter. Pacer Advisors Inc. raised its stake in Uniti Group by 30.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust’s stock valued at $10,612,000 after buying an additional 446,168 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Uniti Group by 5.8% during the 4th 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 buying an additional 96,245 shares during the period. King Street Capital Management L.P. purchased a new position in shares of Uniti Group in the 3rd quarter worth $8,798,000. Finally, Bank of Montreal Can grew its holdings in shares of Uniti Group by 136.2% in the third quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust’s stock worth $9,104,000 after acquiring an additional 898,852 shares during the period. Institutional investors own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Raymond James raised 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 research report on Monday, February 24th. Royal Bank of Canada increased their price objective on shares of Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd.

Uniti Group Price Performance

NASDAQ:UNIT opened at $4.84 on Friday. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.31. The business has a fifty day moving average price of $5.41 and a 200-day moving average price of $5.54. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 11.81 and a beta of 1.70.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. On average, equities research analysts expect that Uniti Group Inc. will post 1.28 earnings per share 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.