Invenomic Capital Management LP Makes New Investment in Uniti Group Inc. (NASDAQ:UNIT)

Invenomic Capital Management LP bought a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 578,903 shares of the real estate investment trust’s stock, valued at approximately $3,184,000. Invenomic Capital Management LP owned 0.24% of Uniti Group as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Golden State Equity Partners boosted its position in Uniti Group by 9.5% during the 4th quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 2,000 shares during the period. Franklin Resources Inc. increased its stake in Uniti Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock valued at $572,000 after purchasing an additional 2,328 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Uniti Group by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 2,397 shares in the last quarter. Arizona State Retirement System increased its stake in Uniti Group by 3.6% in the fourth quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust’s stock valued at $389,000 after purchasing an additional 2,460 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in Uniti Group by 3.6% in the fourth quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust’s stock valued at $405,000 after purchasing an additional 2,563 shares in the last quarter. 87.51% of the stock is owned by institutional investors.

Uniti Group Stock Up 2.0%

UNIT opened at $4.52 on Monday. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 11.02 and a beta of 1.59. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.31. The company’s 50-day moving average price is $4.80 and its two-hundred day moving average price is $5.35.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The business had revenue of $293.91 million for the quarter, compared to analyst estimates of $295.39 million. During the same quarter in the prior year, the firm posted $0.32 EPS. Uniti Group’s revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Uniti Group from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Thursday. Raymond James upgraded shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $6.00 to $8.00 in a 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.