Apollo Management Holdings L.P. Grows Stake in Uniti Group Inc. (NASDAQ:UNIT)

Apollo Management Holdings L.P. grew its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,239,917 shares of the real estate investment trust's stock after buying an additional 231,977 shares during the quarter. Uniti Group makes up 0.4% of Apollo Management Holdings L.P.'s portfolio, making the stock its 15th largest position. Apollo Management Holdings L.P. owned about 2.16% of Uniti Group worth $28,820,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of UNIT. Golden State Equity Partners increased its position in Uniti Group by 9.5% during the 4th quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust's stock worth $127,000 after buying an additional 2,000 shares during the period. Franklin Resources Inc. boosted its holdings in Uniti Group by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust's stock valued at $572,000 after purchasing an additional 2,328 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Uniti Group by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust's stock worth $1,402,000 after purchasing an additional 2,397 shares during the period. Arizona State Retirement System boosted its stake in shares of Uniti Group by 3.6% in the fourth quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust's stock valued at $389,000 after buying an additional 2,460 shares during the period. Finally, Inspire Investing LLC grew its position in Uniti Group by 3.6% during the fourth quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust's stock worth $405,000 after buying an additional 2,563 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Stock Down 0.1 %

Shares of NASDAQ:UNIT traded down $0.01 during trading on Monday, hitting $4.96. 483,189 shares of the company were exchanged, compared to its average volume of 2,600,737. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.31. The company has a market capitalization of $1.22 billion, a P/E ratio of 12.11 and a beta of 1.59. The business's 50 day moving average is $4.91 and its 200-day moving average is $5.39.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, topping the consensus estimate 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 business had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. As a group, sell-side analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $6.00 to $8.00 in a research note 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.