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

Foundry Partners LLC acquired a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 102,797 shares of the real estate investment trust’s stock, valued at approximately $565,000.

Other large investors also recently modified their holdings of the company. King Street Capital Management L.P. bought a new position in Uniti Group during the third quarter valued at approximately $8,798,000. Strategic Financial Concepts LLC grew its holdings in shares of Uniti Group by 449.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust’s stock valued at $5,338,000 after purchasing an additional 794,049 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Uniti Group by 136.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust’s stock worth $7,501,000 after purchasing an additional 787,319 shares during the period. JPMorgan Chase & Co. lifted its stake in Uniti Group by 42.0% in the fourth 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 during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Uniti Group by 30.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust’s stock worth $10,612,000 after purchasing an additional 446,168 shares during the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Stock Down 5.9 %

Shares of UNIT opened at $4.65 on Friday. The firm has a fifty day simple moving average of $5.31 and a two-hundred day simple moving average of $5.52. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.31. The stock has a market capitalization of $1.14 billion, a P/E ratio of 11.34 and a beta of 1.70.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $293.32 million for the quarter, compared to analysts’ expectations 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 expect that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank of Canada lifted 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 raised their price target for the stock from $6.00 to $8.00 in a research report on Monday, February 24th.

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.