Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its position in Uniti Group Inc. (NASDAQ:UNIT) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,754 shares of the real estate investment trust’s stock after selling 4,102 shares during the period. Cetera Investment Advisers’ holdings in Uniti Group were worth $114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Uniti Group by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust’s stock valued at $7,394,000 after purchasing an additional 51,241 shares during the period. Charles Schwab Investment Management Inc. raised its position in Uniti Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust’s stock worth $43,654,000 after acquiring an additional 62,377 shares during the period. State of Alaska Department of Revenue raised its position in Uniti Group by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust’s stock worth $1,402,000 after acquiring an additional 2,397 shares during the period. Prudential Financial Inc. raised its position in Uniti Group by 9.2% during the fourth quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust’s stock worth $3,244,000 after acquiring an additional 49,537 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Uniti Group during the fourth quarter worth $2,418,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UNIT shares. Raymond James upgraded shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $6.00 to $8.00 in a research report on Monday, February 24th. Wells Fargo & Company reduced their price objective on shares of Uniti Group from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Finally, Citigroup restated a “neutral” rating and set a $5.30 price objective on shares of Uniti Group in a research report on Friday, May 16th.

Uniti Group Stock Up 0.2%

Shares of NASDAQ UNIT opened at $4.31 on Tuesday. The firm has a 50-day simple moving average of $4.61 and a 200-day simple moving average of $5.22. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 10.51 and a beta of 1.59. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.31.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $293.91 million during the quarter, compared to analysts’ expectations of $295.39 million. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. As a group, equities research analysts expect that Uniti Group Inc. will post 1.28 EPS for the current year.

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.