Uniti Group Inc. (NASDAQ:UNIT) Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 53.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,531 shares of the real estate investment trust’s stock after purchasing an additional 11,395 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Uniti Group were worth $170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UNIT. King Street Capital Management L.P. raised its holdings in Uniti Group by 66.7% during the fourth quarter. King Street Capital Management L.P. now owns 2,600,000 shares of the real estate investment trust’s stock worth $14,300,000 after purchasing an additional 1,040,000 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Uniti Group by 136.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust’s stock valued at $7,501,000 after buying an additional 787,319 shares in the last quarter. LMR Partners LLP bought a new position in shares of Uniti Group in the fourth quarter valued at $4,230,000. Sona Asset Management US LLC increased its holdings in shares of Uniti Group by 100.0% in the fourth quarter. Sona Asset Management US LLC now owns 1,200,000 shares of the real estate investment trust’s stock valued at $6,600,000 after buying an additional 600,000 shares in the last quarter. Finally, Quinn Opportunity Partners LLC bought a new position in shares of Uniti Group in the fourth quarter valued at $3,249,000. Institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

UNIT has been the topic of several research reports. Citigroup reaffirmed a “neutral” rating and issued a $5.30 price target on shares of Uniti Group in a report on Friday, May 16th. Wells Fargo & Company dropped their price target on Uniti Group from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Thursday, May 8th.

Uniti Group Stock Performance

NASDAQ UNIT opened at $4.53 on Friday. Uniti Group Inc. has a twelve month low of $3.29 and a twelve month high of $6.31. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 17.42 and a beta of 1.46. The firm’s 50 day moving average price is $4.36 and its two-hundred day moving average price is $4.92.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Uniti Group had a net margin of 5.45% and a negative return on equity of 2.60%. The firm had revenue of $293.91 million for the quarter, compared to analysts’ expectations of $295.39 million. During the same period in the previous year, the company posted $0.32 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

About Uniti Group

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.