Pacer Advisors Inc. Decreases Stock Holdings in Uniti Group Inc. $UNIT

Pacer Advisors Inc. lowered its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 54.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,195 shares of the real estate investment trust’s stock after selling 441,888 shares during the quarter. Pacer Advisors Inc.’s holdings in Uniti Group were worth $2,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UNIT. T. Rowe Price Investment Management Inc. raised its holdings in Uniti Group by 103.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 14,656,558 shares of the real estate investment trust’s stock worth $102,743,000 after purchasing an additional 7,441,044 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Uniti Group by 38.9% in the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after buying an additional 6,494,001 shares in the last quarter. Penn Capital Management Company LLC bought a new stake in shares of Uniti Group in the 4th quarter valued at about $8,900,000. SG Americas Securities LLC grew its position in shares of Uniti Group by 2,208.3% in the 4th quarter. SG Americas Securities LLC now owns 995,163 shares of the real estate investment trust’s stock worth $6,976,000 after buying an additional 952,050 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Uniti Group by 23.6% in 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 buying an additional 877,911 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UNIT shares. TD Cowen boosted their price objective on shares of Uniti Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Williams Trading set a $12.00 target price on shares of Uniti Group in a research note on Tuesday, May 12th. Citigroup lifted their price target on shares of Uniti Group from $9.00 to $11.75 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Weiss Ratings raised Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Finally, Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.92.

Uniti Group Price Performance

NASDAQ UNIT opened at $11.51 on Wednesday. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 3.44 and a beta of 1.40. The stock’s fifty day moving average price is $11.46 and its 200 day moving average price is $9.14. Uniti Group Inc. has a 1 year low of $5.30 and a 1 year high of $12.94.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $987.50 million during the quarter, compared to analysts’ expectations of $930.08 million. Uniti Group had a negative return on equity of 2.52% and a net margin of 39.61%.The firm’s revenue was up 236.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Research analysts expect that Uniti Group Inc. will post -1.56 earnings per share for the current year.

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.