Marshall Wace LLP Reduces Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Marshall Wace LLP cut its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 56.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 154,987 shares of the real estate investment trust’s stock after selling 198,958 shares during the quarter. Marshall Wace LLP owned about 0.06% of Uniti Group worth $852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $43,654,000 after acquiring an additional 62,377 shares in the last quarter. Geode Capital Management LLC grew its position in Uniti Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust’s stock worth $34,754,000 after purchasing an additional 101,702 shares during the last quarter. Pacer Advisors Inc. increased its stake in Uniti Group by 30.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust’s stock valued at $10,612,000 after purchasing an additional 446,168 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Uniti Group by 42.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,787,257 shares of the real estate investment trust’s stock worth $9,830,000 after buying an additional 529,050 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Uniti Group by 5.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,764,803 shares of the real estate investment trust’s stock worth $9,706,000 after buying an additional 96,245 shares during the period. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Performance

Shares of Uniti Group stock opened at $4.92 on Thursday. The firm has a 50-day simple moving average of $4.94 and a two-hundred day simple moving average of $5.40. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.31. The company has a market cap of $1.20 billion, a P/E ratio of 12.00 and a beta of 1.57.

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

Wall Street Analysts Forecast Growth

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

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.