Brevan Howard Capital Management LP Trims Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

Brevan Howard Capital Management LP lessened its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 61.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,834 shares of the real estate investment trust's stock after selling 60,434 shares during the quarter. Brevan Howard Capital Management LP's holdings in Uniti Group were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Uniti Group by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust's stock worth $43,654,000 after buying an additional 62,377 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Uniti Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust's stock worth $34,754,000 after buying an additional 101,702 shares during the last quarter. Apollo Management Holdings L.P. lifted its position in shares of Uniti Group by 4.6% during the 4th quarter. Apollo Management Holdings L.P. now owns 5,239,917 shares of the real estate investment trust's stock worth $28,820,000 after buying an additional 231,977 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Uniti Group by 12.0% in the 4th quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust's stock valued at $15,119,000 after acquiring an additional 295,104 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of Uniti Group by 30.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust's stock valued at $10,612,000 after acquiring an additional 446,168 shares during the period. Hedge funds and other institutional investors own 87.51% of the company's stock.

Uniti Group Price Performance

Shares of Uniti Group stock opened at $4.57 on Tuesday. The firm's fifty day simple moving average is $4.79 and its 200-day simple moving average is $5.35. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.15 and a beta of 1.59. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.31.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut 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, May 8th. Raymond James raised shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted 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.

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