Caisse Des Depots ET Consignations Takes $529,000 Position in Uniti Group Inc. (NASDAQ:UNIT)

Caisse Des Depots ET Consignations acquired a new position in Uniti Group Inc. (NASDAQ:UNIT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 96,110 shares of the real estate investment trust’s stock, valued at approximately $529,000.

Several other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Uniti Group by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust’s stock worth $43,654,000 after purchasing an additional 62,377 shares during the period. Pacer Advisors Inc. raised its position in 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 purchasing an additional 446,168 shares during the period. JPMorgan Chase & Co. lifted its position in Uniti Group by 42.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,787,257 shares of the real estate investment trust’s stock worth $9,830,000 after buying an additional 529,050 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Uniti Group by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,764,803 shares of the real estate investment trust’s stock worth $9,706,000 after purchasing an additional 96,245 shares during the period. Finally, King Street Capital Management L.P. bought a new position in shares of Uniti Group during the third quarter valued at approximately $8,798,000. Institutional investors own 87.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on UNIT. Raymond James upgraded Uniti Group from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $6.00 to $8.00 in a research note on Monday, February 24th. Royal Bank of Canada upped their target price on Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a research report on Monday, December 23rd.

Uniti Group Trading Down 3.2 %

Shares of NASDAQ UNIT opened at $4.84 on Friday. The company has a 50-day moving average of $5.41 and a 200 day moving average of $5.54. The stock has a market cap of $1.18 billion, a PE ratio of 11.81 and a beta of 1.70. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31.

Uniti Group (NASDAQ:UNIT) last posted 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 the consensus estimate of $294.59 million. On average, sell-side analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Uniti Group 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.