138,000 Shares in Uniti Group Inc. $UNIT Purchased by BTG Pactual Asset Management US LLC

BTG Pactual Asset Management US LLC bought a new position in Uniti Group Inc. (NASDAQ:UNIT) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 138,000 shares of the real estate investment trust’s stock, valued at approximately $1,583,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Uniti Group by 38.9% during the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock worth $162,651,000 after buying an additional 6,494,001 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Uniti Group during the 1st quarter valued at about $1,781,000. Sei Investments Co. boosted its position in shares of Uniti Group by 135.6% during the 1st quarter. Sei Investments Co. now owns 188,432 shares of the real estate investment trust’s stock valued at $1,767,000 after acquiring an additional 108,438 shares during the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Uniti Group by 38.2% during the fourth quarter. Mizuho Markets Americas LLC now owns 398,246 shares of the real estate investment trust’s stock worth $2,792,000 after purchasing an additional 110,000 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Uniti Group during the first quarter valued at approximately $4,203,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

UNIT has been the subject of a number of research analyst reports. UBS Group set a $12.00 price objective on shares of Uniti Group in a report on Tuesday, May 12th. JPMorgan Chase & Co. reduced their target price on Uniti Group from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Williams Trading set a $12.00 price target on Uniti Group in a research report on Tuesday, May 12th. Citigroup lifted their price target on Uniti Group from $9.00 to $11.75 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Uniti Group in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.92.

Uniti Group Stock Performance

Shares of UNIT stock opened at $10.02 on Monday. Uniti Group Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $12.94. The stock has a 50 day moving average price of $10.49 and a two-hundred day moving average price of $10.19. The company has a market capitalization of $2.43 billion, a P/E ratio of 3.70 and a beta of 1.40.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.23). Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%.The firm had revenue of $909.70 million during the quarter, compared to the consensus estimate of $884.82 million. As a group, equities analysts predict that Uniti Group Inc. will post -2.09 earnings per share for the current year.

Uniti Group Company Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.