Uniti Group (NASDAQ:UNIT) Shares Down 6.3% - What's Next?

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) dropped 6.3% during trading on Tuesday . The company traded as low as $5.51 and last traded at $5.46. Approximately 861,549 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 1,663,884 shares. The stock had previously closed at $5.82.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price objective on Uniti Group from $5.50 to $6.00 and gave the company a "sector perform" rating in a report on Monday, December 23rd.

Uniti Group Stock Up 3.7 %

The business has a fifty day moving average of $5.57 and a 200 day moving average of $5.38. The firm has a market cap of $1.37 billion, a P/E ratio of 13.71 and a beta of 1.31.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. On average, sell-side analysts expect that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Uniti Group

Several large investors have recently modified their holdings of UNIT. Signaturefd LLC increased 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 worth $47,000 after acquiring an additional 2,870 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Uniti Group in the third quarter worth about $64,000. Proficio Capital Partners LLC bought a new stake in shares of Uniti Group in the fourth quarter worth about $68,000. Pitcairn Co. bought a new stake in shares of Uniti Group in the third quarter worth about $69,000. Finally, Virtu Financial LLC bought a new stake in shares of Uniti Group in the third quarter worth about $70,000. 87.51% of the stock is currently owned by institutional investors.

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.