SG Americas Securities LLC Sells 914,764 Shares of Uniti Group Inc. $UNIT

SG Americas Securities LLC cut its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 91.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 80,399 shares of the real estate investment trust’s stock after selling 914,764 shares during the quarter. SG Americas Securities LLC’s holdings in Uniti Group were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in Uniti Group by 10.1% in the 1st quarter. Royal Bank of Canada now owns 198,000 shares of the real estate investment trust’s stock valued at $998,000 after buying an additional 18,165 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Uniti Group during the 1st quarter valued at $161,000. Goldman Sachs Group Inc. lifted its position in shares of 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 worth $23,207,000 after acquiring an additional 877,911 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Uniti Group during the first quarter worth $80,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Uniti Group by 40.9% in the second quarter. Franklin Resources Inc. now owns 50,586 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 14,696 shares during the period. Institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Performance

NASDAQ:UNIT opened at $11.13 on Tuesday. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.94. The stock has a fifty day moving average of $11.41 and a 200 day moving average of $9.41. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 3.32 and a beta of 1.40.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The business 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 earned $0.35 earnings per share. Uniti Group’s revenue was up 236.0% compared to the same quarter last year. Equities analysts forecast that Uniti Group Inc. will post -1.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

UNIT has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Uniti Group from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Williams Trading set a $12.00 target price on Uniti Group in a research note on Tuesday, May 12th. Barclays lifted their target price on Uniti Group from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. Finally, UBS Group set a $12.00 price target on shares of Uniti Group in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.14.

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.