Ballentine Partners LLC Purchases Shares of 11,291 Uniti Group Inc. (NASDAQ:UNIT)

Ballentine Partners LLC acquired a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,291 shares of the real estate investment trust’s stock, valued at approximately $64,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Uniti Group by 1.4% during 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 acquiring an additional 542,485 shares during the period. LSV Asset Management grew its holdings in shares of Uniti Group by 1.3% during the 1st 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. Davidson Kempner Capital Management LP increased its position in Uniti Group by 17.7% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 5,480,000 shares of the real estate investment trust’s stock worth $16,002,000 after purchasing an additional 825,000 shares in the last quarter. AQR Capital Management LLC raised its holdings in Uniti Group by 244.7% in the second quarter. AQR Capital Management LLC now owns 2,254,810 shares of the real estate investment trust’s stock valued at $6,584,000 after buying an additional 1,600,628 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Uniti Group by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 1,869,032 shares of the real estate investment trust’s stock valued at $5,458,000 after buying an additional 74,832 shares in the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Stock Performance

UNIT stock opened at $5.59 on Thursday. The firm has a market cap of $1.34 billion, a P/E ratio of 93.17 and a beta of 1.29. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The stock has a 50-day simple moving average of $5.23 and a 200-day simple moving average of $4.29.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, SVP Ronald J. Mudry sold 28,693 shares of the firm’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 completion of the sale, the senior vice president now directly owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.