TD Asset Management Inc Takes Position in Uniti Group Inc. $UNIT

TD Asset Management Inc purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 250,264 shares of the real estate investment trust’s stock, valued at approximately $1,532,000. TD Asset Management Inc owned approximately 0.17% of Uniti Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Uniti Group by 10.1% during the 1st 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 in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Uniti Group during the 1st quarter worth approximately $161,000. Goldman Sachs Group Inc. increased its stake in Uniti Group by 23.6% in 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 during the last quarter. United Services Automobile Association bought a new position in Uniti Group in the first quarter valued at approximately $80,000. Finally, Bank of Montreal Can raised its position in 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 purchasing an additional 18,538 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UNIT has been the topic of a number of research analyst reports. Wall Street Zen downgraded Uniti Group from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Wells Fargo & Company lifted their target price on Uniti Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday. Raymond James Financial reissued a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research note on Tuesday. Barclays set a $8.00 price target on shares of Uniti Group in a research note on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th. One equities 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, Uniti Group has a consensus rating of “Hold” and an average target price of $7.86.

Uniti Group Trading Up 2.8%

NASDAQ:UNIT opened at $8.06 on Friday. The stock’s 50-day moving average is $7.69 and its 200-day moving average is $6.82. Uniti Group Inc. has a 1-year low of $5.30 and a 1-year high of $11.73. The stock has a market cap of $1.19 billion, a P/E ratio of 2.14 and a beta of 1.50.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.73). The business had revenue of $917.30 million for the quarter, compared to the consensus estimate of $909.44 million. Uniti Group had a negative return on equity of 2.52% and a net margin of 55.60%.The company’s revenue was up 212.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, equities analysts forecast 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.