Uniti Group (NASDAQ:UNIT) Trading Down 7.3% - What's Next?

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report)'s stock price fell 7.3% during trading on Thursday . The stock traded as low as $4.74 and last traded at $4.77. 1,763,202 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 2,068,540 shares. The stock had previously closed at $5.14.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UNIT shares. Royal Bank of Canada upped their target price on Uniti Group from $5.50 to $6.00 and gave the company a "sector perform" rating in a report on Monday, December 23rd. Raymond James upgraded shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $6.00 to $8.00 in a research report on Monday, February 24th.

Uniti Group Stock Up 3.8 %

The firm has a 50 day moving average of $5.50 and a 200 day moving average of $5.53. The firm has a market cap of $1.26 billion, a PE ratio of 12.54 and a beta of 1.70.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The company had revenue of $293.32 million during the quarter, compared to the consensus estimate of $294.59 million. On average, research analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current year.

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Institutional Investors Weigh In On Uniti Group

Institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Uniti Group during the 4th quarter worth approximately $2,450,000. Michels Family Financial LLC bought a new stake in shares of Uniti Group during the 4th quarter valued at about $558,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Uniti Group by 16.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 683,626 shares of the real estate investment trust's stock worth $3,760,000 after purchasing an additional 94,903 shares in the last quarter. Voloridge Investment Management LLC increased its position in shares of Uniti Group by 52.3% in the fourth quarter. Voloridge Investment Management LLC now owns 510,504 shares of the real estate investment trust's stock worth $2,808,000 after purchasing an additional 175,308 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in Uniti Group by 276.0% in the fourth quarter. Two Sigma Advisers LP now owns 254,200 shares of the real estate investment trust's stock valued at $1,398,000 after purchasing an additional 186,600 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company's stock.

About Uniti Group

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.