Uniti Group Inc. (NASDAQ:UNIT) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. lifted its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 589,789 shares of the real estate investment trust’s stock after buying an additional 49,537 shares during the period. Prudential Financial Inc. owned approximately 0.24% of Uniti Group worth $3,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. King Street Capital Management L.P. acquired a new stake in Uniti Group during the 3rd quarter worth approximately $8,798,000. Strategic Financial Concepts LLC lifted its position 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. Thrivent Financial for Lutherans boosted its stake in shares of Uniti Group by 136.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust’s stock valued at $7,501,000 after purchasing an additional 787,319 shares during the period. Pacer Advisors Inc. boosted its position in Uniti Group by 30.1% in 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. Finally, Raymond James Financial Inc. purchased a new stake in shares of Uniti Group during the fourth quarter worth about $2,418,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Stock Up 0.4 %

Shares of NASDAQ:UNIT opened at $5.24 on Thursday. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31. The company has a market cap of $1.28 billion, a PE ratio of 12.78 and a beta of 1.70. The company’s 50-day moving average price is $5.35 and its 200 day moving average price is $5.53.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The business had revenue of $293.32 million during the quarter, compared to analyst estimates of $294.59 million. As a group, equities analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada raised their price objective on Uniti Group from $5.50 to $6.00 and gave the company 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 raised their target price for the stock from $6.00 to $8.00 in a report on Monday, February 24th.

Uniti Group Company 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.