Nomura Asset Management Co. Ltd. Purchases 29,300 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Nomura Asset Management Co. Ltd. lifted its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 9.7% during the fourth quarter, Holdings Channel reports. The firm owned 329,900 shares of the real estate investment trust’s stock after acquiring an additional 29,300 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Uniti Group were worth $1,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in shares of Uniti Group by 51.3% in the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 2,870 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Uniti Group during the fourth quarter worth $68,000. Virtu Financial LLC purchased a new position in Uniti Group in the third quarter worth $70,000. Handelsbanken Fonder AB bought a new position in Uniti Group in the 4th quarter valued at $71,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Uniti Group during the 3rd quarter worth $74,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James upgraded shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $6.00 to $8.00 in a research report on Monday, February 24th. Royal Bank of Canada lifted their price target on shares of Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Monday, December 23rd.

Uniti Group Stock Performance

Shares of UNIT opened at $5.24 on Thursday. The firm has a market cap of $1.28 billion, a P/E ratio of 12.78 and a beta of 1.70. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31. The business has a 50-day moving average of $5.35 and a 200 day moving average of $5.53.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The company had revenue of $293.32 million for the quarter, compared to analysts’ expectations of $294.59 million. As a group, research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

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.