Mizuho Markets Americas LLC Buys 110,000 Shares of Uniti Group Inc. $UNIT

Mizuho Markets Americas LLC lifted its stake in Uniti Group Inc. (NASDAQ:UNIT) by 38.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 398,246 shares of the real estate investment trust’s stock after buying an additional 110,000 shares during the period. Mizuho Markets Americas LLC’s holdings in Uniti Group were worth $2,792,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Contrarian Capital Management L.L.C. purchased a new stake in Uniti Group during the 3rd quarter valued at about $2,783,000. SG Americas Securities LLC increased its stake in Uniti Group by 2,208.3% in the 4th quarter. SG Americas Securities LLC now owns 995,163 shares of the real estate investment trust’s stock worth $6,976,000 after purchasing an additional 952,050 shares during the period. Thematics Asset Management purchased a new position in Uniti Group in the 3rd quarter worth approximately $3,900,000. TD Asset Management Inc bought a new stake in Uniti Group in the third quarter valued at approximately $1,532,000. Finally, Vanguard Group Inc. lifted its position in Uniti Group by 38.9% in the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after purchasing an additional 6,494,001 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on UNIT shares. Raymond James Financial restated a “strong-buy” rating and issued a $11.00 target price on shares of Uniti Group in a report on Tuesday, March 3rd. Zacks Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Royal Bank Of Canada raised their price target on shares of Uniti Group from $6.50 to $7.50 and gave the stock a “sector perform” rating in a report on Monday, April 13th. Finally, UBS Group set a $12.00 price objective on shares of Uniti Group in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Uniti Group currently has a consensus rating of “Hold” and a consensus target price of $10.92.

Uniti Group Stock Performance

UNIT opened at $11.04 on Friday. The stock has a market capitalization of $2.68 billion, a PE ratio of 3.30 and a beta of 1.44. The stock’s 50 day moving average price is $10.23 and its 200-day moving average price is $8.30. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.39.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $987.50 million during the quarter, compared to analyst estimates of $930.08 million. Uniti Group had a negative return on equity of 2.52% and a net margin of 39.61%.The firm’s revenue was up 236.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Research analysts forecast that Uniti Group Inc. will post -1.75 EPS for the current fiscal year.

About Uniti Group

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.