Uniti Group Inc. (NASDAQ:UNIT) Stock Holdings Lessened by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 47.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,462,900 shares of the real estate investment trust's stock after selling 1,314,923 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.60% of Uniti Group worth $8,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Uniti Group by 0.8% in the fourth 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 acquiring an additional 62,377 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 worth $34,754,000 after buying an additional 101,702 shares during the period. Apollo Management Holdings L.P. boosted its position in shares of 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 worth $28,820,000 after buying an additional 231,977 shares during the period. Northern Trust Corp boosted its position in shares of 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 worth $15,119,000 after buying an additional 295,104 shares during the period. Finally, King Street Capital Management L.P. boosted its position 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 during the period. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Uniti Group Trading Down 4.5%

NASDAQ:UNIT traded down $0.20 during midday trading on Friday, hitting $4.20. 2,992,211 shares of the stock were exchanged, compared to its average volume of 2,520,492. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.31. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.24 and a beta of 1.59. The business has a 50-day moving average price of $4.69 and a two-hundred day moving average price of $5.29.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The firm 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 company earned $0.32 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts forecast 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.