Thrivent Financial for Lutherans Purchases 787,319 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Thrivent Financial for Lutherans boosted its position in Uniti Group Inc. (NASDAQ:UNIT) by 136.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,363,732 shares of the real estate investment trust’s stock after purchasing an additional 787,319 shares during the period. Thrivent Financial for Lutherans owned about 0.56% of Uniti Group worth $7,501,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. King Street Capital Management L.P. acquired a new stake in shares of Uniti Group in the third quarter valued at approximately $8,798,000. Paloma Partners Management Co bought a new stake in Uniti Group in the 3rd quarter valued at $6,218,000. Bank of Montreal Can lifted its holdings in Uniti Group by 136.2% during the 3rd quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust’s stock valued at $9,104,000 after purchasing an additional 898,852 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Uniti Group by 449.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust’s stock valued at $5,338,000 after purchasing an additional 794,049 shares during the last quarter. Finally, Algert Global LLC raised its position in shares of Uniti Group by 373.0% in the third 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 during the period. Institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Performance

Shares of UNIT opened at $4.99 on Monday. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.31. The firm’s 50 day moving average is $5.46 and its 200-day moving average is $5.55. The stock has a market capitalization of $1.22 billion, a PE ratio of 12.17 and a beta of 1.70.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results 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 for 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%. Equities research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on UNIT shares. Raymond James raised Uniti Group from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $6.00 to $8.00 in a research report on Monday, February 24th. Royal Bank of Canada increased their price objective on Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research report 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.