12,270 Shares in Uniti Group Inc. (NASDAQ:UNIT) Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. acquired a new position in Uniti Group Inc. (NASDAQ:UNIT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,270 shares of the real estate investment trust’s stock, valued at approximately $36,000.

Other institutional investors have also added to or reduced their stakes in the company. Everhart Financial Group Inc. bought a new position in shares of Uniti Group during the second quarter valued at approximately $41,000. Choreo LLC purchased a new position in Uniti Group during the 2nd quarter valued at $41,000. GAMMA Investing LLC grew its position in Uniti Group by 49.8% in the 1st quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 2,960 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Uniti Group by 138.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 12,291 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Uniti Group during the first quarter valued at $75,000. Institutional investors own 87.51% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $5.50 price target on shares of Uniti Group in a report on Thursday, August 29th.

Uniti Group Stock Down 3.1 %

UNIT opened at $5.35 on Tuesday. The stock’s fifty day moving average is $4.19 and its two-hundred day moving average is $4.42. The company has a market capitalization of $1.29 billion, a P/E ratio of 89.17 and a beta of 1.28. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.28). Uniti Group had a negative return on equity of 0.37% and a net margin of 0.79%. The firm had revenue of $294.90 million for the quarter, compared to the consensus estimate of $289.97 million. During the same period in the previous year, the company posted $0.34 EPS. Uniti Group’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Uniti Group Inc. will post 1.31 earnings per share for the current year.

Insider Activity

In other news, SVP Ronald J. Mudry sold 28,693 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total value of $113,050.42. Following the completion of the sale, the senior vice president now owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.39% of the company’s stock.

About Uniti Group

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.