Mercer Global Advisors Inc. ADV Has $49,000 Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Mercer Global Advisors Inc. ADV trimmed its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 84.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,715 shares of the real estate investment trust’s stock after selling 90,636 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Uniti Group were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Uniti Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock valued at $226,809,000 after purchasing an additional 542,485 shares during the period. LSV Asset Management raised its position in shares of Uniti Group by 1.3% during the first quarter. LSV Asset Management now owns 7,276,879 shares of the real estate investment trust’s stock worth $42,934,000 after purchasing an additional 91,408 shares during the period. Bank of New York Mellon Corp grew its position in Uniti Group by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,869,032 shares of the real estate investment trust’s stock worth $5,458,000 after purchasing an additional 74,832 shares in the last quarter. Norges Bank purchased a new stake in shares of Uniti Group during the fourth quarter valued at approximately $9,139,000. Finally, Mizuho Markets Americas LLC lifted its holdings in Uniti Group by 21.2% during the first quarter. Mizuho Markets Americas LLC now owns 1,363,762 shares of the real estate investment trust’s stock worth $8,046,000 after acquiring an additional 239,000 shares during the period. Institutional investors own 87.51% of the company’s stock.

Analyst Ratings Changes

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

Uniti Group Stock Performance

NASDAQ UNIT opened at $5.52 on Wednesday. The stock has a market cap of $1.33 billion, a P/E ratio of 92.00 and a beta of 1.28. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.71. The stock has a 50 day simple moving average of $4.56 and a two-hundred day simple moving average of $4.35.

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 for the quarter, missing the consensus estimate 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 business had revenue of $294.90 million during the quarter, compared to analysts’ expectations of $289.97 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts predict that Uniti Group Inc. will post 1.31 earnings per share for the current year.

Insider Activity

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total transaction of $113,050.42. Following the transaction, the senior vice president now owns 513,761 shares in the company, valued at $2,024,218.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.39% of the company’s stock.

Uniti Group Company Profile

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.