Hsbc Holdings PLC Purchases New Stake in Uniti Group Inc. $UNIT

Hsbc Holdings PLC purchased a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 189,863 shares of the real estate investment trust’s stock, valued at approximately $1,781,000. Hsbc Holdings PLC owned approximately 0.08% of Uniti Group as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Uniti Group by 38.9% in the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock worth $162,651,000 after acquiring an additional 6,494,001 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Uniti Group by 103.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 14,656,558 shares of the real estate investment trust’s stock valued at $102,743,000 after acquiring an additional 7,441,044 shares in the last quarter. State Street Corp boosted its position in Uniti Group by 7.9% during the 4th quarter. State Street Corp now owns 7,116,934 shares of the real estate investment trust’s stock worth $49,890,000 after purchasing an additional 523,054 shares during the period. Goldman Sachs Group Inc. boosted its position in Uniti Group by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after purchasing an additional 877,911 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Uniti Group by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 4,352,729 shares of the real estate investment trust’s stock valued at $30,518,000 after purchasing an additional 323,845 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Price Performance

Shares of UNIT stock opened at $10.82 on Monday. Uniti Group Inc. has a 12 month low of $5.30 and a 12 month high of $12.94. The firm has a market capitalization of $2.63 billion, a P/E ratio of 3.23 and a beta of 1.40. The company’s fifty day moving average price is $11.30 and its two-hundred day moving average price is $9.79.

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, beating the consensus estimate of ($0.35) by $0.01. The business had revenue of $987.50 million for the quarter, compared to analyst estimates of $930.08 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue was up 236.0% on a year-over-year basis. On average, sell-side analysts anticipate that Uniti Group Inc. will post -1.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on UNIT. TD Cowen boosted their price objective on Uniti Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada increased their target price on Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a research note on Monday, April 13th. UBS Group set a $12.00 target price on Uniti Group in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price target on Uniti Group from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Finally, Citigroup upped their price target on Uniti Group from $9.00 to $11.75 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average 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.