LMR Partners LLP Purchases Shares of 769,000 Uniti Group Inc. (NASDAQ:UNIT)

LMR Partners LLP acquired a new position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 769,000 shares of the real estate investment trust's stock, valued at approximately $4,230,000. LMR Partners LLP owned 0.32% of Uniti Group as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in UNIT. King Street Capital Management L.P. increased its stake 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 valued at $14,300,000 after buying an additional 1,040,000 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Uniti Group by 449.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 970,590 shares of the real estate investment trust's stock worth $5,338,000 after acquiring an additional 794,049 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Uniti Group by 136.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,363,732 shares of the real estate investment trust's stock worth $7,501,000 after acquiring an additional 787,319 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new stake in shares of Uniti Group during the fourth quarter worth about $3,249,000. Finally, Invenomic Capital Management LP purchased a new stake in shares of Uniti Group during the fourth quarter worth about $3,184,000. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price 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. Raymond James raised Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $6.00 to $8.00 in a report on Monday, February 24th.

Uniti Group Stock Up 2.1%

Shares of Uniti Group stock traded up $0.10 on Thursday, reaching $4.85. 3,254,963 shares of the stock were exchanged, compared to its average volume of 2,529,693. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.31. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 11.83 and a beta of 1.59. The business has a 50 day moving average price of $4.76 and a two-hundred day moving average price of $5.33.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.35. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The company had revenue of $293.91 million during the quarter, compared to the consensus estimate of $295.39 million. During the same period in the previous year, the company posted $0.32 earnings per share. Uniti Group's revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current year.

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.