Quinn Opportunity Partners LLC Has $2.18 Million Stock Position in Uniti Group Inc. $UNIT

Quinn Opportunity Partners LLC reduced its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 39.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 356,186 shares of the real estate investment trust’s stock after selling 234,605 shares during the period. Quinn Opportunity Partners LLC’s holdings in Uniti Group were worth $2,180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Uniti Group by 775.7% during the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 6,919 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,795 shares in the last quarter. United Services Automobile Association bought a new position in shares of Uniti Group in the first quarter valued at approximately $80,000. Journey Strategic Wealth LLC raised its stake in shares of Uniti Group by 11.1% in the second quarter. Journey Strategic Wealth LLC now owns 19,236 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 1,924 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Uniti Group by 602.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 22,634 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 19,414 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on UNIT. Barclays set a $8.00 price target on Uniti Group in a research report on Thursday, January 29th. Wall Street Zen lowered Uniti Group from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th. Zacks Research lowered Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $11.00 price target on shares of Uniti Group in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Uniti Group presently has an average rating of “Hold” and an average target price of $8.60.

Uniti Group Price Performance

Shares of Uniti Group stock opened at $7.72 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of 2.05 and a beta of 1.50. The firm has a 50 day simple moving average of $7.83 and a 200 day simple moving average of $6.90. Uniti Group Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $11.73.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.73). Uniti Group had a negative return on equity of 2.52% and a net margin of 55.60%.The firm had revenue of $917.30 million for the quarter, compared to analyst estimates of $909.44 million. During the same period in the prior year, the company posted $0.35 EPS. The firm’s quarterly revenue was up 212.8% compared to the same quarter last year. On average, sell-side analysts expect that Uniti Group Inc. will post 1.28 EPS for the current year.

Uniti Group Company Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.