Sterling Capital Management LLC Has $741,000 Position in Uniti Group Inc. (NASDAQ:UNIT)

Sterling Capital Management LLC grew its position in Uniti Group Inc. (NASDAQ:UNIT) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,639 shares of the real estate investment trust’s stock after purchasing an additional 6,859 shares during the period. Sterling Capital Management LLC’s holdings in Uniti Group were worth $741,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC grew its position in shares of Uniti Group by 51.3% in the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 2,870 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Uniti Group during the fourth quarter worth $68,000. Virtu Financial LLC acquired a new stake in shares of Uniti Group during the third quarter worth $70,000. Handelsbanken Fonder AB bought a new stake in Uniti Group in the 4th quarter valued at $71,000. Finally, Diversified Trust Co acquired a new position in Uniti Group in the 4th quarter worth $74,000. 87.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UNIT has been the topic of a number of research reports. Royal Bank of Canada boosted their price target on Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd. Raymond James raised Uniti Group from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $6.00 to $8.00 in a research report on Monday, February 24th.

Uniti Group Price Performance

Shares of NASDAQ UNIT opened at $4.56 on Thursday. The business has a 50-day moving average of $5.10 and a 200-day moving average of $5.45. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 11.12 and a beta of 1.57. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The firm had revenue of $293.32 million during the quarter, compared to the consensus estimate of $294.59 million. On average, sell-side analysts expect that Uniti Group Inc. will post 1.28 EPS for the current year.

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.