Balyasny Asset Management L.P. Has $635,000 Position in Uniti Group Inc. (NASDAQ:UNIT)

Balyasny Asset Management L.P. lessened its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 75.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,383 shares of the real estate investment trust's stock after selling 363,917 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Uniti Group were worth $635,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of Uniti Group by 51.3% in the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 2,870 shares during the period. Proficio Capital Partners LLC acquired a new stake in Uniti Group during the 4th quarter valued at $68,000. Handelsbanken Fonder AB acquired a new position in shares of Uniti Group during the fourth quarter valued at $71,000. Ballentine Partners LLC increased its position in Uniti Group by 35.1% in the fourth quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust's stock worth $84,000 after purchasing an additional 3,966 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Uniti Group by 20.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,376 shares of the real estate investment trust's stock worth $90,000 after purchasing an additional 2,790 shares during the period. Institutional investors and hedge funds own 87.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

Uniti Group Price Performance

NASDAQ:UNIT traded down $0.07 during trading hours on Wednesday, reaching $4.43. 174,120 shares of the company were exchanged, compared to its average volume of 2,517,438. The company has a market capitalization of $1.09 billion, a P/E ratio of 10.79 and a beta of 1.59. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.31. The business has a 50 day moving average of $4.73 and a 200 day moving average of $5.32.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its 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 negative return on equity of 4.12% and a net margin of 8.82%. The firm had revenue of $293.91 million during the quarter, compared to analysts' expectations of $295.39 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company's quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share 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.