BNP Paribas Financial Markets Decreases Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

BNP Paribas Financial Markets cut its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127,565 shares of the real estate investment trust's stock after selling 84,924 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.05% of Uniti Group worth $702,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UNIT. Charles Schwab Investment Management Inc. raised its position in shares of Uniti Group by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust's stock valued at $43,654,000 after purchasing an additional 62,377 shares during the period. Geode Capital Management LLC increased its stake in Uniti Group by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust's stock worth $34,754,000 after buying an additional 101,702 shares in the last quarter. Apollo Management Holdings L.P. raised its holdings 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 acquiring an additional 231,977 shares during the period. Northern Trust Corp lifted its position in shares of Uniti Group by 12.0% in 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 acquiring an additional 295,104 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Uniti Group by 30.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust's stock valued at $10,612,000 after acquiring an additional 446,168 shares in the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Trading Up 4.4%

Shares of NASDAQ:UNIT traded up $0.19 during mid-day trading on Tuesday, reaching $4.39. The stock had a trading volume of 901,425 shares, compared to its average volume of 2,515,609. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.31. The business's 50 day moving average price is $4.68 and its 200 day moving average price is $5.27. The company has a market cap of $1.08 billion, a P/E ratio of 10.70 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting 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 company had revenue of $293.91 million for the quarter, compared to analysts' expectations of $295.39 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. Uniti Group's quarterly revenue was up 2.6% on a year-over-year basis. Analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on UNIT. Wells Fargo & Company decreased their target price on Uniti Group from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Raymond James upgraded shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $6.00 to $8.00 in a research report on Monday, February 24th. Finally, Citigroup reissued a "neutral" rating and issued a $5.30 target price on shares of Uniti Group in a report on Friday, May 16th.

About Uniti Group

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.