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

Jackson Thornton Wealth Management LLC acquired a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,495 shares of the real estate investment trust’s stock, valued at approximately $503,000.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in shares of Uniti Group by 51.3% during the fourth quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 2,870 shares during the period. Pitcairn Co. purchased a new stake in Uniti Group in the third quarter worth $69,000. Proficio Capital Partners LLC purchased a new stake in Uniti Group in the fourth quarter worth $68,000. Virtu Financial LLC purchased a new stake in Uniti Group in the third quarter worth $70,000. Finally, Handelsbanken Fonder AB purchased a new stake in Uniti Group in the fourth quarter worth $71,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Performance

UNIT opened at $4.99 on Monday. The stock has a fifty day simple moving average of $5.46 and a two-hundred day simple moving average of $5.55. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 12.17 and a beta of 1.70. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $293.32 million during the quarter, compared to the consensus estimate of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. On average, analysts predict that Uniti Group Inc. will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

UNIT has been the subject of a number of research analyst reports. Raymond James raised Uniti Group from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $6.00 to $8.00 in a research note on Monday, February 24th. Royal Bank of Canada raised their price target on Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd.

About Uniti Group

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.