Massachusetts Financial Services Co. MA Invests $207,000 in Uniti Group Inc. (NASDAQ:UNIT)

Massachusetts Financial Services Co. MA purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 37,591 shares of the real estate investment trust’s stock, valued at approximately $207,000.

Several other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Uniti Group by 0.8% during the 4th 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 purchasing an additional 62,377 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Uniti Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust’s stock worth $34,754,000 after purchasing an additional 101,702 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Uniti Group by 30.1% during the 4th 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. JPMorgan Chase & Co. lifted its holdings in Uniti Group by 42.0% during the 4th 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, Bank of New York Mellon Corp lifted its holdings in Uniti Group by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,764,803 shares of the real estate investment trust’s stock worth $9,706,000 after purchasing an additional 96,245 shares during the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Price Performance

Shares of NASDAQ UNIT opened at $4.42 on Thursday. The stock has a market capitalization of $1.08 billion, a PE ratio of 10.78 and a beta of 1.57. The business has a fifty day moving average price of $5.20 and a two-hundred day moving average price of $5.49. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $293.32 million during 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%. On average, equities analysts expect that Uniti Group Inc. will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UNIT. Royal Bank of Canada lifted their price target 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 raised Uniti Group from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $6.00 to $8.00 in a report on Monday, February 24th.

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.