Rhumbline Advisers Buys 5,983 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Rhumbline Advisers boosted its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 780,532 shares of the real estate investment trust’s stock after acquiring an additional 5,983 shares during the quarter. Rhumbline Advisers’ holdings in Uniti Group were worth $4,293,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in UNIT. King Street Capital Management L.P. bought a new stake in Uniti Group during the 3rd quarter worth about $8,798,000. Paloma Partners Management Co bought a new stake in Uniti Group during the 3rd quarter worth about $6,218,000. Bank of Montreal Can boosted its stake in shares of Uniti Group by 136.2% in the 3rd quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust’s stock valued at $9,104,000 after purchasing an additional 898,852 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Uniti Group by 449.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust’s stock valued at $5,338,000 after purchasing an additional 794,049 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its stake in shares of Uniti Group by 548.9% in the 3rd quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust’s stock valued at $4,467,000 after purchasing an additional 670,000 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Performance

Shares of UNIT stock opened at $5.74 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of 14.00 and a beta of 1.31. The company’s 50 day moving average price is $5.56 and its two-hundred day moving average price is $5.44. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. Analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Raymond James raised shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $6.00 to $8.00 in a research note on Monday, February 24th. Royal Bank of Canada raised their target price on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a research note 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.