AQR Capital Management LLC Reduces Position in Uniti Group Inc. (NASDAQ:UNIT)

AQR Capital Management LLC decreased its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 939,952 shares of the real estate investment trust's stock after selling 57,592 shares during the quarter. AQR Capital Management LLC owned about 0.39% of Uniti Group worth $5,170,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Signaturefd LLC grew its stake in Uniti Group by 51.3% in the fourth quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 2,870 shares during the period. Proficio Capital Partners LLC bought a new stake in Uniti Group during the 4th quarter valued at $68,000. Virtu Financial LLC bought a new stake in Uniti Group during the 3rd quarter valued at $70,000. Handelsbanken Fonder AB acquired a new position in Uniti Group during the fourth quarter worth $71,000. Finally, Diversified Trust Co bought a new position in shares of Uniti Group in the fourth quarter valued at $74,000. Institutional investors own 87.51% of the company's stock.

Uniti Group Stock Performance

NASDAQ:UNIT traded up $0.09 on Friday, hitting $4.52. The stock had a trading volume of 2,153,542 shares, compared to its average volume of 2,526,688. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.31. The firm's fifty day simple moving average is $4.80 and its two-hundred day simple moving average is $5.35. The stock has a market cap of $1.11 billion, a P/E ratio of 11.02 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35. The business had revenue of $293.91 million for the quarter, compared to analyst estimates of $295.39 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. Uniti Group's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. Equities research analysts predict that Uniti Group Inc. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

UNIT has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Uniti Group from $5.00 to $4.50 and set an "equal weight" rating on the stock in a report on Thursday. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $6.00 to $8.00 in a report on Monday, February 24th.

Uniti Group Company 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.