Alberta Investment Management Corp Sells 79,943 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Key Points

• Alberta Investment Management Corp has significantly reduced its stake in Uniti Group Inc. by 87.9%, selling 79,943 shares and now holding 11,037 shares valued at $56,000.
• Multiple institutional investors have entered or increased their positions in Uniti Group, with notable stakes acquired valued between $28,000 and $98,000 in the first quarter.
• Uniti Group's latest earnings report revealed EPS of $0.35 for the quarter, meeting consensus estimates, while revenue grew 2.6% year-over-year, totaling $293.91 million.

Alberta Investment Management Corp lowered its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 87.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,037 shares of the real estate investment trust's stock after selling 79,943 shares during the period. Alberta Investment Management Corp's holdings in Uniti Group were worth $56,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. King Street Capital Management L.P. increased its holdings in shares of Uniti Group by 66.7% during the fourth quarter. King Street Capital Management L.P. now owns 2,600,000 shares of the real estate investment trust's stock worth $14,300,000 after buying an additional 1,040,000 shares in the last quarter. LMR Partners LLP acquired a new position in Uniti Group during the fourth quarter worth approximately $4,230,000. Sona Asset Management US LLC raised its stake in Uniti Group by 100.0% in the fourth quarter. Sona Asset Management US LLC now owns 1,200,000 shares of the real estate investment trust's stock valued at $6,600,000 after buying an additional 600,000 shares during the period. Quinn Opportunity Partners LLC acquired a new stake in shares of Uniti Group in the fourth quarter valued at approximately $3,249,000. Finally, Invenomic Capital Management LP bought a new position in shares of Uniti Group during the 4th quarter worth approximately $3,184,000. Institutional investors own 87.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup reaffirmed a "neutral" rating and set a $5.30 price target on shares of Uniti Group in a report on Friday, May 16th. Wells Fargo & Company raised their price objective on shares of Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a research report on Thursday.

Uniti Group Stock Down 8.1%

Shares of UNIT traded down $0.57 during midday trading on Friday, hitting $6.44. The company's stock had a trading volume of 1,437,390 shares, compared to its average volume of 1,163,703. Uniti Group Inc. has a one year low of $6.53 and a one year high of $12.62. The stock has a market capitalization of $953.44 million, a price-to-earnings ratio of 23.45 and a beta of 1.47. The company's fifty day simple moving average is $4.81 and its two-hundred day simple moving average is $4.94.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). The company had revenue of $300.73 million during the quarter, compared to analyst estimates of $304.06 million. Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. On average, research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current year.

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.