Maridea Wealth Management LLC Invests $460,000 in Uniti Group Inc. (NASDAQ:UNIT)

Maridea Wealth Management LLC purchased a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 83,675 shares of the real estate investment trust’s stock, valued at approximately $460,000.

Other hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of Uniti Group by 9.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 329,900 shares of the real estate investment trust’s stock worth $1,814,000 after buying an additional 29,300 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new position in Uniti Group in the fourth quarter valued at approximately $529,000. JPMorgan Chase & Co. boosted its position in Uniti Group by 42.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,787,257 shares of the real estate investment trust’s stock worth $9,830,000 after purchasing an additional 529,050 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Uniti Group by 10.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 168,214 shares of the real estate investment trust’s stock worth $922,000 after purchasing an additional 16,112 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Uniti Group by 9.2% during the 4th quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust’s stock valued at $3,244,000 after purchasing an additional 49,537 shares in the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Price Performance

Shares of UNIT stock opened at $4.93 on Friday. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.31. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 12.02 and a beta of 1.70. The stock has a 50 day simple moving average of $5.39 and a 200-day simple moving average of $5.53.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The company had revenue of $293.32 million during the quarter, compared to analysts’ expectations of $294.59 million. Analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on UNIT shares. Raymond James raised shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $6.00 to $8.00 in a report on Monday, February 24th. Royal Bank of Canada increased their target price on shares of Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd.

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.