Bank of New York Mellon Corp Sells 93,482 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Bank of New York Mellon Corp lessened its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,671,321 shares of the real estate investment trust's stock after selling 93,482 shares during the quarter. Bank of New York Mellon Corp owned 0.68% of Uniti Group worth $8,423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in Uniti Group by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust's stock valued at $34,754,000 after buying an additional 101,702 shares during the period. Apollo Management Holdings L.P. grew its position in Uniti Group by 4.6% during the fourth 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 buying an additional 231,977 shares during the period. Northern Trust Corp grew its position in Uniti Group by 12.0% during the fourth quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust's stock valued at $15,119,000 after buying an additional 295,104 shares during the period. King Street Capital Management L.P. grew its position in 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 valued at $14,300,000 after buying an additional 1,040,000 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Uniti Group by 42.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,787,257 shares of the real estate investment trust's stock valued at $9,830,000 after buying an additional 529,050 shares during the period. Institutional investors own 87.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on UNIT shares. Wells Fargo & Company lowered their price target 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. Citigroup reissued a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a report on Friday, May 16th.

Uniti Group Stock Up 2.7%

NASDAQ:UNIT opened at $5.42 on Wednesday. The stock has a market cap of $1.33 billion, a P/E ratio of 20.85 and a beta of 1.46. The firm's fifty day simple moving average is $4.39 and its 200 day simple moving average is $4.88. Uniti Group Inc. has a twelve month low of $3.49 and a twelve 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 EPS for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $293.91 million during the quarter, compared to analyst estimates of $295.39 million. Uniti Group had a negative return on equity of 2.60% and a net margin of 5.45%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. On average, analysts expect that Uniti Group Inc. will post 1.28 EPS for the current fiscal 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.

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