Arizona State Retirement System Raises Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Arizona State Retirement System boosted its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,798 shares of the real estate investment trust’s stock after purchasing an additional 2,460 shares during the quarter. Arizona State Retirement System’s holdings in Uniti Group were worth $389,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in UNIT. King Street Capital Management L.P. bought a new position in Uniti Group during the third quarter valued at $8,798,000. Paloma Partners Management Co purchased a new stake in Uniti Group in the 3rd quarter worth about $6,218,000. Bank of Montreal Can lifted its stake in Uniti Group by 136.2% in the third quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust’s stock worth $9,104,000 after purchasing an additional 898,852 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Uniti Group by 449.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust’s stock worth $5,338,000 after purchasing an additional 794,049 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its stake in shares of Uniti Group by 548.9% during the third quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust’s stock valued at $4,467,000 after buying an additional 670,000 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

UNIT has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd. Raymond James upgraded Uniti Group from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $6.00 to $8.00 in a research report on Monday, February 24th.

Uniti Group Price Performance

Shares of UNIT stock opened at $4.95 on Friday. The company’s 50-day simple moving average is $5.50 and its two-hundred day simple moving average is $5.52. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.39. The company has a market capitalization of $1.21 billion, a P/E ratio of 12.07 and a beta of 1.70.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. On average, research analysts expect 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.