12,945 Shares in Uniti Group Inc. (NASDAQ:UNIT) Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB bought a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the 4th quarter, Holdings Channel reports. The fund bought 12,945 shares of the real estate investment trust’s stock, valued at approximately $71,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Uniti Group by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust’s stock valued at $44,413,000 after acquiring an additional 452,411 shares during the last quarter. Pacer Advisors Inc. increased its stake in Uniti Group by 30.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust’s stock valued at $10,612,000 after purchasing an additional 446,168 shares in the last quarter. King Street Capital Management L.P. acquired a new stake in Uniti Group in the third quarter worth $8,798,000. Bank of Montreal Can boosted its position 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. Finally, Principal Financial Group Inc. grew its holdings in shares of 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 valued at $7,394,000 after buying an additional 51,241 shares during the period. Institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Down 1.9 %

NASDAQ:UNIT opened at $5.63 on Tuesday. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.73 and a beta of 1.31. The stock’s 50 day moving average price is $5.56 and its two-hundred day moving average price is $5.48.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $293.32 million for the quarter, compared to analyst estimates of $294.59 million. As a group, analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analysts Set New Price Targets

UNIT has been the topic of a number of research analyst reports. 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 research report on Monday, February 24th. Royal Bank of Canada increased their target price on Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd.

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.