Uniti Group Inc. (NASDAQ:UNIT) is King Street Capital Management L.P.'s 7th Largest Position

King Street Capital Management L.P. increased its position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 66.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,600,000 shares of the real estate investment trust's stock after buying an additional 1,040,000 shares during the period. Uniti Group accounts for about 2.2% of King Street Capital Management L.P.'s investment portfolio, making the stock its 7th biggest position. King Street Capital Management L.P. owned about 1.07% of Uniti Group worth $14,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in Uniti Group by 51.3% during the fourth quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock worth $47,000 after buying an additional 2,870 shares during the period. Proficio Capital Partners LLC bought a new position in Uniti Group in the fourth quarter worth approximately $68,000. Handelsbanken Fonder AB purchased a new position in Uniti Group during the 4th quarter worth $71,000. Diversified Trust Co bought a new stake in Uniti Group during the 4th quarter valued at $74,000. Finally, Ballentine Partners LLC lifted its holdings in shares of Uniti Group by 35.1% in the 4th 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 during the period. 87.51% of the stock is owned by institutional investors.

Uniti Group Stock Up 2.0 %

NASDAQ UNIT opened at $4.52 on Friday. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.31. The company has a 50 day moving average price of $4.80 and a 200 day moving average price of $5.35. The firm has a market cap of $1.11 billion, a PE ratio of 11.02 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $293.91 million for the quarter, compared to the consensus estimate of $295.39 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The business's quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on UNIT shares. Raymond James raised shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $6.00 to $8.00 in a research note on Monday, February 24th. Wells Fargo & Company reduced their price objective on shares of Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Thursday.

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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