Vestcor Inc Trims Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Vestcor Inc reduced its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 34.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,050 shares of the real estate investment trust’s stock after selling 107,447 shares during the period. Vestcor Inc’s holdings in Uniti Group were worth $1,128,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mizuho Markets Americas LLC lifted its holdings in shares of Uniti Group by 548.9% during the third quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust’s stock valued at $4,467,000 after purchasing an additional 670,000 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Uniti Group by 189.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 576,413 shares of the real estate investment trust’s stock valued at $3,251,000 after buying an additional 376,964 shares in the last quarter. Intech Investment Management LLC increased its position in Uniti Group by 32.6% during the 3rd quarter. Intech Investment Management LLC now owns 164,605 shares of the real estate investment trust’s stock valued at $928,000 after buying an additional 40,493 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Uniti Group by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust’s stock valued at $44,413,000 after buying an additional 452,411 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Uniti Group by 58.7% in the third quarter. Cerity Partners LLC now owns 99,791 shares of the real estate investment trust’s stock worth $563,000 after acquiring an additional 36,907 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on UNIT shares. Royal Bank of Canada raised their price target on Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd. Raymond James raised shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $6.00 to $8.00 in a report on Monday, February 24th.

Uniti Group Trading Up 4.2 %

Uniti Group stock opened at $4.95 on Friday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 12.07 and a beta of 1.70. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.39. The stock has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $5.52.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $293.32 million during the quarter, compared to analyst estimates of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. On average, equities research analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Uniti Group Profile

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.