Allianz Asset Management GmbH Sells 26,677 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Allianz Asset Management GmbH lessened its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 0.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,716,560 shares of the real estate investment trust’s stock after selling 26,677 shares during the quarter. Allianz Asset Management GmbH owned about 2.34% of Uniti Group worth $31,441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UNIT. Ballentine Partners LLC purchased a new position in Uniti Group during the third quarter valued at approximately $64,000. Pitcairn Co. bought a new position in Uniti Group in the 3rd quarter valued at $69,000. Virtu Financial LLC purchased a new position in shares of Uniti Group during the 3rd quarter valued at $70,000. Handelsbanken Fonder AB bought a new position in shares of Uniti Group in the fourth quarter worth $71,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Uniti Group in the third quarter worth $74,000. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Price Performance

Shares of UNIT opened at $5.62 on Monday. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71. The company has a market capitalization of $1.37 billion, a P/E ratio of 13.71 and a beta of 1.31. The firm’s 50 day simple moving average is $5.56 and its 200 day simple moving average is $5.41.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating 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 firm had revenue of $293.32 million for the quarter, compared to analysts’ expectations of $294.59 million. On average, equities analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analyst Ratings Changes

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

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.