Cibc World Markets Corp Buys New Shares in Uniti Group Inc. (NASDAQ:UNIT)

Cibc World Markets Corp purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,750 shares of the real estate investment trust’s stock, valued at approximately $125,000.

A number of other hedge funds also recently bought and sold shares of the stock. Swiss National Bank increased its stake in shares of Uniti Group by 3.6% during the fourth quarter. Swiss National Bank now owns 480,174 shares of the real estate investment trust’s stock worth $2,641,000 after buying an additional 16,900 shares during the period. Amundi increased its position in shares of Uniti Group by 175.5% in the 4th quarter. Amundi now owns 118,420 shares of the real estate investment trust’s stock valued at $643,000 after purchasing an additional 75,438 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Uniti Group by 20.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,376 shares of the real estate investment trust’s stock valued at $90,000 after purchasing an additional 2,790 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Uniti Group during the 4th quarter worth $2,418,000. Finally, Arizona State Retirement System grew its stake in shares of Uniti Group by 3.6% during the fourth quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 2,460 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Price Performance

Shares of NASDAQ:UNIT opened at $4.84 on Friday. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.31. The firm has a market capitalization of $1.18 billion, a P/E ratio of 11.81 and a beta of 1.70. The company’s fifty day moving average price is $5.41 and its 200 day moving average price is $5.54.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $293.32 million during 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, sell-side analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

UNIT has been the subject of a number of recent analyst reports. Raymond James raised Uniti Group from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $6.00 to $8.00 in a report on Monday, February 24th. Royal Bank of Canada boosted their target price 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.

About Uniti Group

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.