Bank of America Corp DE Sells 119,588 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Bank of America Corp DE trimmed its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 42.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,940 shares of the real estate investment trust's stock after selling 119,588 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of Uniti Group worth $896,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in UNIT. Algert Global LLC grew its holdings in Uniti Group by 11.4% during the fourth quarter. Algert Global LLC now owns 836,178 shares of the real estate investment trust's stock valued at $4,599,000 after purchasing an additional 85,857 shares during the period. Apollo Management Holdings L.P. grew its stake 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 valued at $28,820,000 after acquiring an additional 231,977 shares during the period. Paloma Partners Management Co grew its stake in shares of Uniti Group by 16.1% during the 4th quarter. Paloma Partners Management Co now owns 1,279,520 shares of the real estate investment trust's stock valued at $7,037,000 after acquiring an additional 176,999 shares during the period. Northern Trust Corp grew its stake in shares of Uniti Group by 12.0% during 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, Tudor Investment Corp ET AL grew its stake in shares of Uniti Group by 2,490.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 349,100 shares of the real estate investment trust's stock valued at $1,920,000 after acquiring an additional 335,624 shares during the period. 87.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

UNIT has been the subject of a number of recent analyst reports. Citigroup reiterated a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a research report on Friday, May 16th. Wells Fargo & Company dropped their target price on shares of Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, Raymond James raised shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $6.00 to $8.00 in a report on Monday, February 24th.

Uniti Group Price Performance

UNIT stock opened at $4.35 on Friday. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.31. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.61 and a beta of 1.48. The business has a 50 day simple moving average of $4.56 and a two-hundred day simple moving average of $5.19.

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

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.

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