Hsbc Holdings PLC Takes Position in Uniti Group Inc. $UNIT

Hsbc Holdings PLC purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 189,863 shares of the real estate investment trust’s stock, valued at approximately $1,781,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC bought a new position in Uniti Group during the 4th quarter valued at $40,000. Mercer Global Advisors Inc. ADV acquired a new position in Uniti Group during the 4th quarter worth $72,000. Osaic Holdings Inc. increased its position in shares of Uniti Group by 20.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,795 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Uniti Group in the 4th quarter worth about $78,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Uniti Group in the 4th quarter valued at about $81,000. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Stock Performance

NASDAQ UNIT opened at $10.82 on Monday. Uniti Group Inc. has a one year low of $5.30 and a one year high of $12.94. The company has a 50-day simple moving average of $11.30 and a 200-day simple moving average of $9.79. The firm has a market capitalization of $2.63 billion, a PE ratio of 3.23 and a beta of 1.40.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.01. The business had revenue of $987.50 million for the quarter, compared to analyst estimates of $930.08 million. During the same quarter last year, the company earned $0.35 EPS. Uniti Group’s revenue was up 236.0% compared to the same quarter last year. Equities analysts forecast that Uniti Group Inc. will post -1.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on UNIT shares. Citigroup increased their price target on shares of Uniti Group from $9.00 to $11.75 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Weiss Ratings upgraded Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Royal Bank Of Canada increased their target price on Uniti Group from $6.50 to $7.50 and gave the stock a “sector perform” rating in a report on Monday, April 13th. UBS Group set a $12.00 target price on Uniti Group in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. boosted their price target on Uniti Group from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.14.

Uniti Group 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.