BNP Paribas Arbitrage SA trimmed its position in shares of Uniti Group Inc (NASDAQ:UNIT) by 16.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,328 shares of the real estate investment trust’s stock after selling 14,726 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Uniti Group were worth $1,257,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of UNIT. Teachers Advisors LLC raised its position in shares of Uniti Group by 378.7% during the fourth quarter. Teachers Advisors LLC now owns 899,263 shares of the real estate investment trust’s stock worth $15,998,000 after purchasing an additional 711,419 shares during the period. Lion Point Capital LP acquired a new position in shares of Uniti Group during the fourth quarter worth approximately $10,674,000. Paloma Partners Management Co acquired a new position in shares of Uniti Group during the fourth quarter worth approximately $9,354,000. Thompson Siegel & Walmsley LLC raised its position in shares of Uniti Group by 8.1% during the first quarter. Thompson Siegel & Walmsley LLC now owns 5,709,197 shares of the real estate investment trust’s stock worth $92,775,000 after purchasing an additional 425,815 shares during the period. Finally, CQS Cayman LP raised its position in shares of Uniti Group by 43.3% during the first quarter. CQS Cayman LP now owns 1,228,000 shares of the real estate investment trust’s stock worth $19,956,000 after purchasing an additional 371,000 shares during the period. 75.56% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on UNIT shares. ValuEngine lowered Uniti Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Cowen set a $26.00 target price on Uniti Group and gave the stock a “buy” rating in a research report on Friday, March 2nd. BidaskClub raised Uniti Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 8th. Deutsche Bank lowered Uniti Group from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a research report on Monday, May 14th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Uniti Group presently has a consensus rating of “Hold” and an average target price of $25.29.
Uniti Group opened at $23.10 on Thursday, according to MarketBeat. The firm has a market capitalization of $3.95 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.03 and a beta of 0.78. Uniti Group Inc has a 12 month low of $13.81 and a 12 month high of $27.78. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of -0.04.
Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, May 10th. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The company had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $247.08 million. Uniti Group had a net margin of 0.75% and a negative return on equity of 0.60%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. equities analysts expect that Uniti Group Inc will post 2.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 10.39%. The ex-dividend date of this dividend is Thursday, June 28th. Uniti Group’s payout ratio is currently 95.62%.
Uniti Group Company Profile
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of December 31, 2017, Uniti owns 4.9 million fiber strand miles, approximately 700 wireless towers, and other communications real estate throughout the United States and Latin America.
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