Fox Run Management L.L.C. Buys New Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Fox Run Management L.L.C. purchased a new position in Uniti Group Inc. (NASDAQ:UNIT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 18,052 shares of the real estate investment trust’s stock, valued at approximately $99,000.

A number of other hedge funds have also recently added to or reduced their stakes in UNIT. Signaturefd LLC grew its position in Uniti Group by 51.3% in the 4th 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. Proficio Capital Partners LLC bought a new stake in shares of Uniti Group during the fourth quarter worth about $68,000. Pitcairn Co. bought a new stake in shares of Uniti Group during the third quarter worth about $69,000. Virtu Financial LLC acquired a new stake in shares of Uniti Group in the 3rd quarter worth about $70,000. Finally, Handelsbanken Fonder AB bought a new position in Uniti Group in the 4th quarter valued at about $71,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Uniti Group Stock Performance

NASDAQ:UNIT opened at $4.93 on Friday. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.31. The firm has a 50-day moving average price of $5.39 and a two-hundred day moving average price of $5.53. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 12.02 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 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 analyst estimates of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. As a group, sell-side analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current 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.