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

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Uniti Group by 51.3% during 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 period. Proficio Capital Partners LLC bought a new position in Uniti Group in the 4th quarter valued at approximately $68,000. Handelsbanken Fonder AB acquired a new stake in shares of Uniti Group during the 4th quarter worth approximately $71,000. Diversified Trust Co acquired a new stake in Uniti Group in the 4th quarter valued at $74,000. Finally, Ballentine Partners LLC lifted its stake in Uniti Group by 35.1% during the 4th quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust's stock valued at $84,000 after acquiring an additional 3,966 shares in the last quarter. Institutional investors own 87.51% of the company's stock.

Uniti Group Trading Down 4.3%

NASDAQ:UNIT traded down $0.21 during midday trading on Friday, hitting $4.64. 2,076,615 shares of the stock were exchanged, compared to its average volume of 2,524,406. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 11.32 and a beta of 1.59. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.31. The business has a 50-day moving average price of $4.75 and a two-hundred day moving average price of $5.33.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The business had revenue of $293.91 million during the quarter, compared to analysts' expectations of $295.39 million. During the same quarter last year, the company earned $0.32 earnings per share. The firm's revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

UNIT has been the subject of several recent analyst reports. Citigroup reissued a "neutral" rating and set a $5.30 price objective on shares of Uniti Group in a report on Friday. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $6.00 to $8.00 in a report on Monday, February 24th. Finally, Wells Fargo & Company lowered their target price on Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a report on Thursday, May 8th.

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.