Allianz Asset Management GmbH Reduces Stake in Uniti Group Inc. (NASDAQ:UNIT)

Allianz Asset Management GmbH cut its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,716,560 shares of the real estate investment trust’s stock after selling 26,677 shares during the period. Allianz Asset Management GmbH’s holdings in Uniti Group were worth $31,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Equity Partners boosted its holdings in Uniti Group by 9.5% in the fourth quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Uniti Group by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 2,328 shares during the period. State of Alaska Department of Revenue boosted its stake 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 in the last quarter. Inspire Investing LLC increased its position in shares of Uniti Group by 3.6% during the fourth quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust’s stock valued at $405,000 after buying an additional 2,563 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Uniti Group by 14.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,387 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 2,852 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Uniti Group Trading Up 3.7 %

UNIT opened at $5.62 on Monday. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 13.71 and a beta of 1.31. The stock has a fifty day simple moving average of $5.56 and a two-hundred day simple moving average of $5.41. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.71.

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

Uniti Group 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.