Thrivent Financial for Lutherans Trims Holdings in Uniti Group Inc. $UNIT

Thrivent Financial for Lutherans trimmed its position in Uniti Group Inc. (NASDAQ:UNIT) by 65.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,384 shares of the real estate investment trust’s stock after selling 580,289 shares during the period. Thrivent Financial for Lutherans’ holdings in Uniti Group were worth $2,190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in Uniti Group by 20.6% in the 2nd 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 in the last quarter. FNY Investment Advisers LLC purchased a new position in Uniti Group in the 3rd quarter valued at about $75,000. IFP Advisors Inc lifted its holdings in Uniti Group by 461.4% in the 3rd quarter. IFP Advisors Inc now owns 13,485 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 11,083 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new position in Uniti Group in the 4th quarter valued at about $95,000. Finally, CWM LLC lifted its holdings in Uniti Group by 37.5% in the 4th quarter. CWM LLC now owns 14,104 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 3,849 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Price Performance

NASDAQ UNIT opened at $11.04 on Tuesday. Uniti Group Inc. has a 12 month low of $5.30 and a 12 month high of $12.39. The company has a 50-day moving average of $10.30 and a 200-day moving average of $8.35. The company has a market cap of $2.68 billion, a P/E ratio of 3.30 and a beta of 1.44.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Uniti Group had a net margin of 39.61% and a negative return on equity of 2.52%. The company had revenue of $987.50 million during the quarter, compared to the consensus estimate of $930.08 million. During the same quarter in the prior year, the company posted $0.35 EPS. The company’s quarterly revenue was up 236.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Uniti Group Inc. will post -1.75 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on UNIT shares. TD Cowen upped their price objective on shares of Uniti Group from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Williams Trading set a $12.00 price objective on shares of Uniti Group in a research note on Tuesday, May 12th. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings raised shares of Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Finally, UBS Group set a $12.00 price objective on shares of Uniti Group in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.92.

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.