Balyasny Asset Management L.P. Lowers Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

Balyasny Asset Management L.P. trimmed its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 75.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Uniti Group by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust's stock worth $7,394,000 after purchasing an additional 51,241 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Uniti Group by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust's stock worth $572,000 after acquiring an additional 2,328 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Uniti Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust's stock worth $43,654,000 after purchasing an additional 62,377 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Uniti Group by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust's stock valued at $1,402,000 after purchasing an additional 2,397 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Uniti Group by 9.2% in the 4th quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust's stock worth $3,244,000 after purchasing an additional 49,537 shares in the last quarter. Institutional investors own 87.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on UNIT. Wells Fargo & Company decreased their price target on Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Raymond James upgraded shares of 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 research note on Monday, February 24th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a report on Friday.

Uniti Group Price Performance

NASDAQ:UNIT traded down $0.09 during midday trading on Monday, hitting $4.55. The company's stock had a trading volume of 2,976,634 shares, compared to its average volume of 2,526,215. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31. The firm's 50 day moving average is $4.75 and its 200-day moving average is $5.33. The firm has a market cap of $1.12 billion, a P/E ratio of 11.10 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting analysts' consensus estimates of $0.35. The firm had revenue of $293.91 million for the quarter, compared to analyst estimates of $295.39 million. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current 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.