Proficio Capital Partners LLC Purchases Shares of 12,281 Uniti Group Inc. (NASDAQ:UNIT)

Proficio Capital Partners LLC purchased a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,281 shares of the real estate investment trust’s stock, valued at approximately $68,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pitcairn Co. acquired a new position in Uniti Group in the third quarter valued at $69,000. Virtu Financial LLC purchased a new stake in Uniti Group in the 3rd quarter valued at approximately $70,000. Handelsbanken Fonder AB purchased a new stake in Uniti Group in the 4th quarter worth approximately $71,000. Y Intercept Hong Kong Ltd purchased a new position in Uniti Group during the third quarter worth approximately $74,000. Finally, Diversified Trust Co purchased a new position in shares of Uniti Group in the 4th quarter worth about $74,000. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Price Performance

Shares of UNIT opened at $4.75 on Friday. The company’s fifty day moving average price is $5.51 and its 200 day moving average price is $5.51. The company has a market capitalization of $1.16 billion, a PE ratio of 11.59 and a beta of 1.70. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.39.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $294.59 million. Analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.