Uniti Group Inc. (NASDAQ:UNIT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Uniti Group Inc. (NASDAQ:UNIT) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,344,312 shares of the real estate investment trust’s stock after acquiring an additional 51,241 shares during the period. Principal Financial Group Inc. owned about 0.55% of Uniti Group worth $7,394,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of UNIT. King Street Capital Management L.P. acquired a new position in shares of Uniti Group in the third quarter worth about $8,798,000. Paloma Partners Management Co acquired a new position in shares of Uniti Group in the third quarter worth about $6,218,000. Bank of Montreal Can increased its stake in shares of 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 worth $9,104,000 after purchasing an additional 898,852 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Uniti Group by 449.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust’s stock worth $5,338,000 after purchasing an additional 794,049 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its stake in shares of Uniti Group by 548.9% during the third quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust’s stock worth $4,467,000 after purchasing an additional 670,000 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Trading Up 0.7 %

Shares of NASDAQ UNIT opened at $5.74 on Friday. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.71. The stock has a market cap of $1.40 billion, a PE ratio of 14.00 and a beta of 1.31. The company has a 50-day moving average of $5.56 and a 200 day moving average of $5.45.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (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 company had revenue of $293.32 million during the quarter, compared to analysts’ expectations of $294.59 million. On average, sell-side analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UNIT has been the subject of a number of research reports. 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 note on Monday, December 23rd. Raymond James raised shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $6.00 to $8.00 in a research note on Monday, February 24th.

Uniti Group 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.