Mizuho Markets Americas LLC Increases Stock Holdings in Uniti Group Inc. $UNIT

Mizuho Markets Americas LLC increased its position in Uniti Group Inc. (NASDAQ:UNIT) by 38.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 398,246 shares of the real estate investment trust’s stock after acquiring an additional 110,000 shares during the quarter. Mizuho Markets Americas LLC owned about 0.27% of Uniti Group worth $2,792,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of UNIT. Osaic Holdings Inc. lifted its stake in Uniti Group by 20.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,795 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Uniti Group in the 3rd quarter valued at $75,000. United Services Automobile Association purchased a new position in shares of Uniti Group during the 1st quarter valued at $80,000. IFP Advisors Inc grew its position in shares of Uniti Group by 461.4% during the 3rd quarter. IFP Advisors Inc now owns 13,485 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 11,083 shares in the last quarter. Finally, Ares Management LLC bought a new position in shares of Uniti Group in the third quarter worth $89,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on UNIT shares. Wall Street Zen downgraded Uniti Group from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. UBS Group set a $12.00 target price on Uniti Group in a research note on Tuesday, May 12th. Weiss Ratings raised Uniti Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. Wells Fargo & Company lifted their price target on Uniti Group from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $11.00 price objective on shares of Uniti Group in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Uniti Group presently has an average rating of “Hold” and an average price target of $10.92.

Uniti Group Stock Performance

Shares of NASDAQ:UNIT opened at $11.04 on Friday. The firm has a market capitalization of $2.68 billion, a PE ratio of 3.30 and a beta of 1.44. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.39. The firm has a fifty day moving average of $10.23 and a 200 day moving average of $8.30.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Uniti Group had a negative return on equity of 2.52% and a net margin of 39.61%.The business had revenue of $987.50 million for the quarter, compared to the consensus estimate of $930.08 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 236.0% on a year-over-year basis. On average, sell-side analysts forecast that Uniti Group Inc. will post -1.75 EPS for the current fiscal year.

Uniti Group Company Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.