Alberta Investment Management Corp Sells 79,943 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Alberta Investment Management Corp decreased its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 87.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,037 shares of the real estate investment trust’s stock after selling 79,943 shares during the period. Alberta Investment Management Corp’s holdings in Uniti Group were worth $56,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of UNIT. KBC Group NV bought a new position in Uniti Group during the first quarter worth about $28,000. Inspire Advisors LLC bought a new position in shares of Uniti Group during the first quarter worth approximately $66,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Uniti Group in the first quarter valued at approximately $67,000. Corton Capital Inc. bought a new stake in shares of Uniti Group in the first quarter valued at approximately $86,000. Finally, Tidal Investments LLC acquired a new stake in Uniti Group during the fourth quarter worth approximately $98,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup reaffirmed a “neutral” rating and issued a $5.30 price objective on shares of Uniti Group in a report on Friday, May 16th. Wells Fargo & Company cut their price objective on shares of Uniti Group from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Thursday, May 8th.

Uniti Group Price Performance

UNIT stock opened at $8.09 on Tuesday. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 31.12 and a beta of 1.47. The company has a 50 day simple moving average of $4.65 and a 200 day simple moving average of $4.90. Uniti Group Inc. has a 1 year low of $7.02 and a 1 year high of $12.62.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. The company had revenue of $293.91 million during the quarter, compared to the consensus estimate of $295.39 million. During the same period in the prior year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current fiscal 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.