Cwm LLC Raises Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Cwm LLC lifted its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 25.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,571 shares of the real estate investment trust’s stock after buying an additional 7,356 shares during the quarter. Cwm LLC’s holdings in Uniti Group were worth $184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of UNIT. KBC Group NV purchased a new stake in shares of Uniti Group in the first quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in shares of Uniti Group by 486.7% in the first quarter. GAMMA Investing LLC now owns 18,522 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 15,365 shares during the period. Tidal Investments LLC purchased a new stake in shares of Uniti Group in the fourth quarter worth approximately $98,000. Russell Investments Group Ltd. raised its holdings in shares of Uniti Group by 23.2% in the fourth quarter. Russell Investments Group Ltd. now owns 22,814 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 4,293 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Uniti Group by 10.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,834 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 2,447 shares during the period. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $5.80 on Monday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.31 and a beta of 1.46. The stock has a 50 day moving average price of $4.46 and a 200 day moving average price of $4.89. Uniti Group Inc. has a 52-week low of $3.51 and a 52-week high of $6.31.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $293.91 million during the quarter, compared to analyst estimates of $295.39 million. Uniti Group had a negative return on equity of 2.60% and a net margin of 5.45%. Uniti Group’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. Analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UNIT. Citigroup reiterated 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 lowered their price target on Uniti Group from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Thursday, May 8th.

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.