Uniti Group Inc. (NASDAQ:UNIT) Shares Purchased by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC lifted its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 5.4% during the 1st quarter, Holdings Channel reports. The fund owned 294,335 shares of the real estate investment trust’s stock after buying an additional 15,000 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Uniti Group were worth $1,483,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. King Street Capital Management L.P. boosted its holdings in Uniti Group by 66.7% in the 4th quarter. King Street Capital Management L.P. now owns 2,600,000 shares of the real estate investment trust’s stock valued at $14,300,000 after purchasing an additional 1,040,000 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Uniti Group by 449.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust’s stock worth $5,338,000 after buying an additional 794,049 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Uniti Group by 136.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust’s stock valued at $7,501,000 after buying an additional 787,319 shares during the period. LMR Partners LLP acquired a new position in Uniti Group in the fourth quarter valued at approximately $4,230,000. Finally, Sona Asset Management US LLC lifted its holdings in Uniti Group by 100.0% in the fourth quarter. Sona Asset Management US LLC now owns 1,200,000 shares of the real estate investment trust’s stock valued at $6,600,000 after acquiring an additional 600,000 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Down 1.8%

Shares of NASDAQ UNIT opened at $4.27 on Tuesday. The business’s 50 day moving average is $4.54 and its two-hundred day moving average is $5.17. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.31. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 10.41 and a beta of 1.48.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $293.91 million during the quarter, compared to analysts’ expectations of $295.39 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. Analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on Uniti Group from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. Raymond James upgraded shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $6.00 to $8.00 in a report on Monday, February 24th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $5.30 target price on shares of Uniti Group in a research report on Friday, May 16th.

About Uniti Group

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.