Illinois Municipal Retirement Fund Invests $436,000 in Uniti Group Inc. $UNIT

Illinois Municipal Retirement Fund bought a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 71,211 shares of the real estate investment trust’s stock, valued at approximately $436,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of Uniti Group by 10.1% during the 1st quarter. Royal Bank of Canada now owns 198,000 shares of the real estate investment trust’s stock valued at $998,000 after purchasing an additional 18,165 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Uniti Group in the first quarter worth about $161,000. Goldman Sachs Group Inc. boosted its stake in Uniti Group by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after buying an additional 877,911 shares during the last quarter. United Services Automobile Association purchased a new position in Uniti Group during the 1st quarter valued at approximately $80,000. Finally, CWM LLC grew its holdings in Uniti Group by 17.4% during the 2nd quarter. CWM LLC now owns 42,930 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 6,359 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Stock Up 3.2%

UNIT stock opened at $8.58 on Friday. Uniti Group Inc. has a twelve month low of $5.30 and a twelve month high of $12.34. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 1.68 and a beta of 1.47. The firm’s fifty day simple moving average is $7.60 and its two-hundred day simple moving average is $6.76.

Analysts Set New Price Targets

UNIT has been the subject of a number of research reports. Wall Street Zen upgraded Uniti Group from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Wells Fargo & Company dropped their price objective on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Finally, Barclays set a $8.00 target price on shares of Uniti Group in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Uniti Group presently has an average rating of “Hold” and an average target price of $7.06.

Uniti Group Company 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.