Foundry Partners LLC Invests $565,000 in Uniti Group Inc. (NASDAQ:UNIT)

Foundry Partners LLC acquired a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 102,797 shares of the real estate investment trust’s stock, valued at approximately $565,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in shares of Uniti Group by 58.7% in the third quarter. Cerity Partners LLC now owns 99,791 shares of the real estate investment trust’s stock worth $563,000 after purchasing an additional 36,907 shares in the last quarter. FMR LLC grew its stake in Uniti Group by 30.6% in the 3rd quarter. FMR LLC now owns 296,932 shares of the real estate investment trust’s stock valued at $1,675,000 after buying an additional 69,573 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Uniti Group by 206.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 212,489 shares of the real estate investment trust’s stock valued at $1,198,000 after acquiring an additional 143,210 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Uniti Group by 129.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 588,723 shares of the real estate investment trust’s stock worth $3,320,000 after acquiring an additional 332,115 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Uniti Group in the third quarter worth $90,000. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Stock Performance

Uniti Group stock opened at $4.65 on Friday. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31. The stock has a market cap of $1.14 billion, a P/E ratio of 11.34 and a beta of 1.70. The firm’s fifty day moving average price is $5.31 and its 200-day moving average price is $5.52.

Uniti Group (NASDAQ:UNIT) last announced its earnings results 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. The business had revenue of $293.32 million for the quarter, compared to analyst estimates of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. Sell-side analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Uniti Group 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.