LMR Partners LLP Takes $4.23 Million Position in Uniti Group Inc. (NASDAQ:UNIT)

LMR Partners LLP bought a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 769,000 shares of the real estate investment trust's stock, valued at approximately $4,230,000. LMR Partners LLP owned approximately 0.32% of Uniti Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC boosted its holdings in shares of Uniti Group by 51.3% in the fourth quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 2,870 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Uniti Group in the fourth quarter valued at about $68,000. Handelsbanken Fonder AB purchased a new stake in shares of Uniti Group in the fourth quarter valued at about $71,000. Diversified Trust Co acquired a new stake in shares of Uniti Group in the fourth quarter valued at about $74,000. Finally, Ballentine Partners LLC boosted its holdings in Uniti Group by 35.1% during the fourth quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust's stock worth $84,000 after buying an additional 3,966 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on UNIT. Raymond James raised shares of 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 report on Monday, February 24th. Wells Fargo & Company decreased their price objective 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. Finally, Citigroup reissued a "neutral" rating and set a $5.30 price objective on shares of Uniti Group in a report on Friday.

Uniti Group Price Performance

Shares of NASDAQ UNIT traded down $0.21 on Friday, hitting $4.64. The company's stock had a trading volume of 2,076,615 shares, compared to its average volume of 2,524,406. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.31. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 11.32 and a beta of 1.59. The stock has a 50 day moving average of $4.75 and a 200-day moving average 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 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 the consensus estimate of $295.39 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts expect 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.