Tower Research Capital LLC TRC Sells 15,482 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Tower Research Capital LLC TRC decreased its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 61.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,621 shares of the real estate investment trust’s stock after selling 15,482 shares during the period. Tower Research Capital LLC TRC’s holdings in Uniti Group were worth $53,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC boosted its stake 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 during the period. Proficio Capital Partners LLC bought a new position in Uniti Group during the fourth quarter valued at approximately $68,000. Handelsbanken Fonder AB bought a new position in Uniti Group during the fourth quarter valued at approximately $71,000. Diversified Trust Co bought a new position in Uniti Group during the fourth quarter valued at approximately $74,000. Finally, Ballentine Partners LLC boosted its stake in Uniti Group by 35.1% during the fourth quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 3,966 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Up 1.1%

Shares of Uniti Group stock opened at $4.57 on Tuesday. The stock has a 50 day moving average of $4.79 and a 200 day moving average of $5.35. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.31. The firm has a market cap of $1.12 billion, a PE ratio of 11.15 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The business had revenue of $293.91 million for the quarter, compared to the consensus estimate of $295.39 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James raised 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 note on Monday, February 24th. Wells Fargo & Company dropped 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.

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.