Bank of New York Mellon Corp Acquires 96,245 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Bank of New York Mellon Corp grew its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,764,803 shares of the real estate investment trust’s stock after acquiring an additional 96,245 shares during the period. Bank of New York Mellon Corp owned about 0.72% of Uniti Group worth $9,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Handelsbanken Fonder AB bought a new position in Uniti Group in the 4th quarter worth $71,000. Ieq Capital LLC boosted its holdings in Uniti Group by 18.7% in the 4th quarter. Ieq Capital LLC now owns 29,201 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 4,601 shares during the period. New York State Common Retirement Fund boosted 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 buying an additional 4,400 shares during the period. Principal Financial Group Inc. boosted its holdings in Uniti Group by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust’s stock worth $7,394,000 after buying an additional 51,241 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Uniti Group by 0.8% in the 4th quarter. Rhumbline Advisers now owns 780,532 shares of the real estate investment trust’s stock worth $4,293,000 after buying an additional 5,983 shares during the period. Institutional investors own 87.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on UNIT shares. Royal Bank of Canada boosted their price target 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 upgraded shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $6.00 to $8.00 in a research note on Monday, February 24th.

Uniti Group Price Performance

Shares of UNIT stock opened at $4.95 on Friday. The company has a market capitalization of $1.21 billion, a P/E ratio of 12.07 and a beta of 1.70. The company’s 50-day simple moving average is $5.50 and its two-hundred day simple moving average is $5.51. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.39.

Uniti Group (NASDAQ:UNIT) last issued its earnings results 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 business had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. On average, 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.