Jackson Thornton Wealth Management LLC Takes Position in Uniti Group Inc. (NASDAQ:UNIT)

Jackson Thornton Wealth Management LLC acquired a new stake in Uniti Group Inc. (NASDAQ:UNIT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 91,495 shares of the real estate investment trust’s stock, valued at approximately $503,000.

Other hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in Uniti Group by 189.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 576,413 shares of the real estate investment trust’s stock valued at $3,251,000 after purchasing an additional 376,964 shares in the last quarter. Intech Investment Management LLC increased its stake in Uniti Group by 32.6% during the 3rd quarter. Intech Investment Management LLC now owns 164,605 shares of the real estate investment trust’s stock valued at $928,000 after purchasing an additional 40,493 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Uniti Group by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust’s stock valued at $44,413,000 after purchasing an additional 452,411 shares in the last quarter. Cerity Partners LLC increased its stake in Uniti Group by 58.7% during the 3rd quarter. Cerity Partners LLC now owns 99,791 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 36,907 shares in the last quarter. Finally, Algert Global LLC increased its stake in Uniti Group by 373.0% during the 3rd quarter. Algert Global LLC now owns 750,321 shares of the real estate investment trust’s stock valued at $4,232,000 after purchasing an additional 591,678 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a research note on Monday, December 23rd. Raymond James raised shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $6.00 to $8.00 in a report on Monday, February 24th.

Uniti Group Price Performance

UNIT opened at $4.99 on Monday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.17 and a beta of 1.70. The firm’s fifty day moving average price is $5.46 and its two-hundred day moving average price is $5.55. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.31.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. As a group, equities analysts anticipate 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.