Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by LSV Asset Management

LSV Asset Management lowered its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 6,643,519 shares of the real estate investment trust’s stock after selling 190,300 shares during the quarter. LSV Asset Management’s holdings in Uniti Group were worth $36,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in UNIT. Principal Financial Group Inc. raised its position in Uniti Group by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust’s stock valued at $7,394,000 after acquiring an additional 51,241 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Uniti Group by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 2,328 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Uniti Group by 0.8% during the 4th 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 purchasing an additional 62,377 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Uniti Group by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 2,397 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Uniti Group by 9.2% during the fourth quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust’s stock worth $3,244,000 after buying an additional 49,537 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Price Performance

Shares of NASDAQ:UNIT opened at $4.30 on Friday. The business’s 50 day moving average price is $5.16 and its 200-day moving average price is $5.47. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.31. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 10.49 and a beta of 1.57.

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. The business had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. On average, sell-side analysts expect that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on UNIT. Royal Bank of Canada lifted their price objective on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd. Raymond James upgraded Uniti Group from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $6.00 to $8.00 in a research note on Monday, February 24th.

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.