New York State Common Retirement Fund Raises Position in Uniti Group Inc. (NASDAQ:UNIT)

New York State Common Retirement Fund lifted its stake in Uniti Group Inc. (NASDAQ:UNIT) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,210 shares of the real estate investment trust’s stock after purchasing an additional 4,400 shares during the quarter. New York State Common Retirement Fund’s holdings in Uniti Group were worth $353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pitcairn Co. purchased a new stake in Uniti Group during the third quarter worth about $69,000. Virtu Financial LLC purchased a new stake in shares of Uniti Group during the third quarter worth approximately $70,000. Y Intercept Hong Kong Ltd acquired a new stake in Uniti Group in the third quarter valued at approximately $74,000. Diversified Trust Co acquired a new position in Uniti Group during the 4th quarter worth approximately $74,000. Finally, Belvedere Trading LLC acquired a new stake in Uniti Group in the third quarter valued at $76,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Uniti Group Price Performance

NASDAQ UNIT opened at $5.35 on Wednesday. The firm has a market capitalization of $1.31 billion, a P/E ratio of 13.05 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. The business’s 50-day simple moving average is $5.56 and its 200-day simple moving average is $5.49.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $293.32 million for the quarter, compared to analyst estimates 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 EPS for the current fiscal year.

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.