Mizuho Markets Americas LLC Trims Stake in Uniti Group Inc. $UNIT

Mizuho Markets Americas LLC trimmed its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 49.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,246 shares of the real estate investment trust’s stock after selling 281,658 shares during the period. Mizuho Markets Americas LLC’s holdings in Uniti Group were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. King Street Capital Management L.P. grew its stake in Uniti Group by 36.4% during the 2nd quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock worth $25,920,000 after buying an additional 1,600,000 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Uniti Group by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after acquiring an additional 877,911 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Uniti Group by 36.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock worth $14,213,000 after purchasing an additional 880,394 shares during the period. Bracebridge Capital LLC increased its position in shares of Uniti Group by 33.0% in the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock valued at $13,974,000 after buying an additional 802,600 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Uniti Group by 4.0% in the 2nd quarter. Marshall Wace LLP now owns 2,991,433 shares of the real estate investment trust’s stock worth $12,923,000 after buying an additional 113,792 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Price Performance

Shares of NASDAQ UNIT opened at $7.51 on Monday. The firm’s 50-day moving average is $6.85 and its two-hundred day moving average is $6.28. The company has a market capitalization of $1.11 billion, a PE ratio of 1.47 and a beta of 1.45. Uniti Group Inc. has a 12-month low of $5.30 and a 12-month high of $12.34.

Wall Street Analyst Weigh In

A number of research firms have commented on UNIT. Wells Fargo & Company cut their price objective on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Zacks Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. JPMorgan Chase & Co. initiated coverage on Uniti Group in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price objective on the stock. Finally, Wall Street Zen upgraded Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.86.

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.