14,838 Shares in Uniti Group Inc. (NASDAQ:UNIT) Purchased by Choreo LLC

Choreo LLC bought a new position in Uniti Group Inc. (NASDAQ:UNIT) during the second quarter, Holdings Channel reports. The firm bought 14,838 shares of the real estate investment trust’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp increased its stake in Uniti Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 208,133 shares of the real estate investment trust’s stock valued at $1,228,000 after buying an additional 2,938 shares during the last quarter. GAMMA Investing LLC increased its stake 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 buying an additional 2,960 shares during the last quarter. Hancock Whitney Corp increased its stake in Uniti Group by 4.5% in the 1st quarter. Hancock Whitney Corp now owns 76,360 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 3,254 shares during the last quarter. ProShare Advisors LLC increased its stake in Uniti Group by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 48,051 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 3,339 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Uniti Group by 1.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 270,300 shares of the real estate investment trust’s stock valued at $1,562,000 after buying an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, SVP Ronald J. Mudry sold 28,693 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.39% of the company’s stock.

Uniti Group Stock Down 2.1 %

Uniti Group stock opened at $5.22 on Friday. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71. The firm has a 50 day moving average price of $4.35 and a 200-day moving average price of $4.41. The company has a market capitalization of $1.25 billion, a P/E ratio of 87.00 and a beta of 1.28.

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

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.