Louisiana State Employees Retirement System Takes $746,000 Position in Uniti Group Inc. $UNIT

Louisiana State Employees Retirement System purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 79,500 shares of the real estate investment trust’s stock, valued at approximately $746,000.

Other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp raised its holdings in Uniti Group by 12.5% in the 4th quarter. Mackenzie Financial Corp now owns 12,202 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 1,352 shares during the period. Hilton Head Capital Partners LLC lifted its holdings in shares of Uniti Group by 26.2% in the 1st quarter. Hilton Head Capital Partners LLC now owns 7,195 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 1,494 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Uniti Group by 2.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 84,017 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 1,629 shares during the period. Osaic Holdings Inc. boosted its position in shares of Uniti Group by 20.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,795 shares during the period. Finally, Xponance LLC increased its holdings in Uniti Group by 17.3% in the 4th quarter. Xponance LLC now owns 13,169 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 1,944 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UNIT shares. Williams Trading set a $12.00 price target on Uniti Group in a research note on Tuesday, May 12th. UBS Group set a $12.00 target price on Uniti Group in a research note on Tuesday, May 12th. Weiss Ratings upgraded Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Wells Fargo & Company boosted their price target on shares of Uniti Group from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Barclays upped their target price on shares of Uniti Group from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Uniti Group has a consensus rating of “Hold” and a consensus target price of $11.14.

Uniti Group Stock Up 1.0%

NASDAQ UNIT traded up $0.11 during trading hours on Tuesday, hitting $11.15. 42,740 shares of the company were exchanged, compared to its average volume of 2,373,048. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 3.33 and a beta of 1.40. The company has a 50 day moving average of $11.41 and a two-hundred day moving average of $9.41. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.94.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $930.08 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 236.0% compared to the same quarter last year. On average, equities research analysts predict that Uniti Group Inc. will post -1.56 EPS for the current 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.