Cubist Systematic Strategies LLC Grows Stake in Uniti Group Inc. (NASDAQ:UNIT)

Cubist Systematic Strategies LLC raised its stake in Uniti Group Inc. (NASDAQ:UNIT) by 32.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446,804 shares of the real estate investment trust’s stock after acquiring an additional 110,656 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.18% of Uniti Group worth $2,457,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Uniti Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust’s stock valued at $43,654,000 after acquiring an additional 62,377 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Uniti Group by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust’s stock valued at $34,754,000 after acquiring an additional 101,702 shares in the last quarter. Apollo Management Holdings L.P. increased its position in shares of Uniti Group by 4.6% during the fourth quarter. Apollo Management Holdings L.P. now owns 5,239,917 shares of the real estate investment trust’s stock valued at $28,820,000 after acquiring an additional 231,977 shares in the last quarter. Northern Trust Corp increased its position in shares of Uniti Group by 12.0% during the fourth quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust’s stock valued at $15,119,000 after acquiring an additional 295,104 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Uniti Group by 30.1% during 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 acquiring an additional 446,168 shares in the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UNIT has been the subject of several analyst reports. Wells Fargo & Company reduced their price target on shares of Uniti Group from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Thursday. Raymond James raised Uniti Group from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $6.00 to $8.00 in a research report on Monday, February 24th.

Uniti Group Stock Performance

Shares of NASDAQ:UNIT opened at $4.52 on Monday. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31. The business has a 50-day simple moving average of $4.80 and a two-hundred day simple moving average of $5.35. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 11.02 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $293.91 million for the quarter, compared to analysts’ expectations of $295.39 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. As a group, research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current year.

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.