Uniti Group Inc. (NASDAQ:UNIT) Stake Lowered by Bienville Capital Management LLC

Bienville Capital Management LLC cut its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 60.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,249 shares of the real estate investment trust’s stock after selling 241,906 shares during the quarter. Bienville Capital Management LLC owned approximately 0.07% of Uniti Group worth $876,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Uniti Group by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust’s stock valued at $7,394,000 after purchasing an additional 51,241 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Uniti Group by 2.2% during the third quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock valued at $572,000 after purchasing an additional 2,328 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Uniti Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust’s stock worth $43,654,000 after buying an additional 62,377 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Uniti Group by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust’s stock worth $1,402,000 after buying an additional 2,397 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Uniti Group by 9.2% during the fourth quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust’s stock worth $3,244,000 after buying an additional 49,537 shares during the period. 87.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded Uniti Group from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $6.00 to $8.00 in a research report on Monday, February 24th.

Uniti Group Price Performance

UNIT opened at $4.93 on Friday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 12.02 and a beta of 1.57. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.31. The business has a 50 day moving average price of $4.93 and a two-hundred day moving average price of $5.40.

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

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.