Uniti Group Inc. $UNIT Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 77.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 225,987 shares of the real estate investment trust’s stock after selling 769,182 shares during the period. Intech Investment Management LLC’s holdings in Uniti Group were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in UNIT. Royal Bank of Canada lifted its holdings in Uniti Group by 10.1% in the first quarter. Royal Bank of Canada now owns 198,000 shares of the real estate investment trust’s stock worth $998,000 after purchasing an additional 18,165 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Uniti Group during the 1st quarter worth about $161,000. Goldman Sachs Group Inc. lifted its stake in shares of Uniti Group by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after acquiring an additional 877,911 shares during the period. United Services Automobile Association bought a new position in shares of Uniti Group in the first quarter valued at approximately $80,000. Finally, Bank of Montreal Can increased its stake in shares of Uniti Group by 3.5% during the second quarter. Bank of Montreal Can now owns 549,664 shares of the real estate investment trust’s stock valued at $2,375,000 after acquiring an additional 18,538 shares during the period. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Raymond James Financial reissued a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a report on Tuesday. Wall Street Zen downgraded Uniti Group from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Barclays set a $8.00 price target on shares of Uniti Group in a research report on Thursday, January 29th. Finally, Wells Fargo & Company upped their price target on shares of Uniti Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.86.

Uniti Group Stock Down 0.1%

Shares of Uniti Group stock opened at $8.05 on Friday. The stock’s fifty day moving average is $7.71 and its 200-day moving average is $6.84. The firm has a market capitalization of $1.19 billion, a PE ratio of 2.13 and a beta of 1.50. Uniti Group Inc. has a 12-month low of $5.30 and a 12-month high of $11.73.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) EPS 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 company had revenue of $917.30 million for the quarter, compared to analysts’ expectations of $909.44 million. During the same period in the prior year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 212.8% on a year-over-year basis. Analysts expect that Uniti Group Inc. will post 1.28 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.