M&G PLC Invests $198,000 in Uniti Group Inc. $UNIT

M&G PLC acquired a new stake in Uniti Group Inc. (NASDAQ:UNIT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,484 shares of the real estate investment trust’s stock, valued at approximately $198,000.

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new stake in Uniti Group in the first quarter worth about $6,158,000. Goldman Sachs Group Inc. boosted its position in shares of Uniti Group by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after purchasing an additional 877,911 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Uniti Group by 65.4% in the 1st quarter. Public Sector Pension Investment Board now owns 1,005,669 shares of the real estate investment trust’s stock worth $5,069,000 after purchasing an additional 397,499 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Uniti Group by 921.4% in the 1st quarter. Mackenzie Financial Corp now owns 306,812 shares of the real estate investment trust’s stock worth $1,546,000 after purchasing an additional 276,774 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Uniti Group by 287.9% in the 1st quarter. Panagora Asset Management Inc. now owns 318,066 shares of the real estate investment trust’s stock worth $1,603,000 after purchasing an additional 236,061 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Uniti Group in a report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Uniti Group in a research report on Thursday, October 23rd. They set a “neutral” rating and a $7.00 price objective for the company. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 9th. Wall Street Zen upgraded Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Barclays initiated coverage on Uniti Group in a research report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Uniti Group currently has an average rating of “Hold” and an average target price of $6.55.

Uniti Group Stock Down 10.4%

UNIT opened at $6.03 on Friday. The firm has a market capitalization of $892.32 million, a P/E ratio of 1.18 and a beta of 1.52. The stock has a fifty day moving average of $6.21 and a 200-day moving average of $5.47. Uniti Group Inc. has a 12-month low of $5.30 and a 12-month high of $12.62.

Uniti Group Company 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.