Cetera Investment Advisers Cuts Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

Cetera Investment Advisers lowered its position in Uniti Group Inc. (NASDAQ:UNIT) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,754 shares of the real estate investment trust’s stock after selling 4,102 shares during the period. Cetera Investment Advisers’ holdings in Uniti Group were worth $114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Uniti Group by 51.3% in the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 2,870 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Uniti Group in the 4th quarter worth approximately $68,000. Handelsbanken Fonder AB purchased a new position in shares of Uniti Group in the 4th quarter worth approximately $71,000. PNC Financial Services Group Inc. grew its position in shares of Uniti Group by 20.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,376 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 2,790 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Uniti Group in the 4th quarter worth approximately $99,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Up 0.2%

Shares of NASDAQ UNIT opened at $4.31 on Tuesday. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.31. The company has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $5.22. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 10.51 and a beta of 1.59.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UNIT. Wells Fargo & Company cut their price objective on shares of 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 lifted their target price for the stock from $6.00 to $8.00 in a research note on Monday, February 24th. Finally, Citigroup reiterated a “neutral” rating and issued a $5.30 target price on shares of Uniti Group in a research note on Friday, May 16th.

Uniti Group Company Profile

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.