Mizuho Markets Americas LLC Grows Stake in Uniti Group Inc. $UNIT

Mizuho Markets Americas LLC lifted its position in Uniti Group Inc. (NASDAQ:UNIT) by 26.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 505,246 shares of the real estate investment trust’s stock after purchasing an additional 107,000 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Uniti Group were worth $4,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. KBC Group NV bought a new stake in Uniti Group during the first quarter valued at $43,000. Hilton Head Capital Partners LLC purchased a new position in Uniti Group during the fourth quarter worth about $40,000. Mercer Global Advisors Inc. ADV bought a new position in Uniti Group in the 4th quarter worth about $72,000. Osaic Holdings Inc. increased 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 acquiring an additional 1,795 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Uniti Group in the 1st quarter valued at about $100,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group set a $12.00 price target on Uniti Group in a research report on Tuesday, May 12th. TD Cowen upped their price objective on shares of Uniti Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada raised their target price on shares of Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a research note on Monday, April 13th. Weiss Ratings upgraded shares of Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Uniti Group from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.14.

Uniti Group Stock Down 1.0%

UNIT opened at $11.02 on Friday. The business’s fifty day simple moving average is $11.30 and its 200 day simple moving average is $9.77. Uniti Group Inc. has a 52 week low of $5.30 and a 52 week high of $12.94. The stock has a market cap of $2.68 billion, a PE ratio of 3.29 and a beta of 1.40.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.01. The firm had revenue of $987.50 million for the quarter, compared to the consensus estimate of $930.08 million. During the same period last year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 236.0% on a year-over-year basis. As a group, equities analysts anticipate that Uniti Group Inc. will post -1.56 earnings per share for the current 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.