Bank of America Corp DE Cuts Position in Uniti Group Inc. (NASDAQ:UNIT)

Bank of America Corp DE lessened its holdings in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 42.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,940 shares of the real estate investment trust's stock after selling 119,588 shares during the period. Bank of America Corp DE owned about 0.07% of Uniti Group worth $896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its stake 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 valued at $1,402,000 after purchasing an additional 2,397 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Uniti Group by 3.6% during 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 purchasing an additional 2,460 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Uniti Group by 20.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,376 shares of the real estate investment trust's stock valued at $90,000 after purchasing an additional 2,790 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Uniti Group by 51.3% during the fourth quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 2,870 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Uniti Group by 3.0% in the fourth quarter. Franklin Resources Inc. now owns 109,243 shares of the real estate investment trust's stock worth $601,000 after acquiring an additional 3,139 shares during the period. Institutional investors own 87.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup restated a "neutral" rating and set a $5.30 price objective on shares of Uniti Group in a report on Friday, May 16th. Raymond James upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $6.00 to $8.00 in a report on Monday, February 24th. Finally, Wells Fargo & Company decreased their price target 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 Stock Performance

UNIT traded down $0.11 on Wednesday, hitting $4.20. 1,966,141 shares of the company were exchanged, compared to its average volume of 2,486,387. The firm has a fifty day simple moving average of $4.52 and a two-hundred day simple moving average of $5.16. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.31. The stock has a market capitalization of $1.03 billion, a PE ratio of 10.24 and a beta of 1.48.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 EPS for the quarter, meeting analysts' consensus estimates of $0.35. The company had revenue of $293.91 million during the quarter, compared to analysts' expectations of $295.39 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. On average, equities analysts expect 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.