Cbre Investment Management Listed Real Assets LLC Sells 619,758 Shares of Uniti Group Inc. $UNIT

Cbre Investment Management Listed Real Assets LLC lessened its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 62.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 380,042 shares of the real estate investment trust’s stock after selling 619,758 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.26% of Uniti Group worth $2,326,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 6,919 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,795 shares during the last quarter. United Services Automobile Association acquired a new position in Uniti Group in the first quarter valued at about $80,000. Journey Strategic Wealth LLC lifted its stake in Uniti Group by 11.1% in the second quarter. Journey Strategic Wealth LLC now owns 19,236 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 1,924 shares during the period. Finally, Inscription Capital LLC bought a new position in Uniti Group during the third quarter worth about $121,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Price Performance

Shares of Uniti Group stock opened at $8.35 on Thursday. The company has a market capitalization of $1.24 billion, a P/E ratio of 2.21 and a beta of 1.50. The business has a 50-day moving average of $7.80 and a two-hundred day moving average of $6.89. Uniti Group Inc. has a 1 year low of $5.30 and a 1 year high of $11.73.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.73). Uniti Group had a net margin of 55.60% and a negative return on equity of 2.52%. The business had revenue of $917.30 million for the quarter, compared to the consensus estimate of $909.44 million. During the same quarter last year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 212.8% on a year-over-year basis. On average, equities analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James Financial restated a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research report on Tuesday, March 3rd. Barclays set a $8.00 price objective on shares of Uniti Group in a research note on Thursday, January 29th. Wells Fargo & Company boosted their price objective on shares of Uniti Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Citigroup upped their target price on shares of Uniti Group from $8.80 to $9.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Wall Street Zen lowered shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Uniti Group currently has a consensus rating of “Hold” and an average target price of $8.60.

Uniti Group 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.