Texas Permanent School Fund Corp Grows Position in Uniti Group Inc. (NASDAQ:UNIT)

Texas Permanent School Fund Corp raised its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 45.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 302,752 shares of the real estate investment trust’s stock after acquiring an additional 94,619 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Uniti Group were worth $884,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Nomura Holdings Inc. lifted its stake in shares of Uniti Group by 94.1% in the fourth quarter. Nomura Holdings Inc. now owns 588,078 shares of the real estate investment trust’s stock valued at $3,399,000 after purchasing an additional 285,112 shares during the period. Jupiter Asset Management Ltd. lifted its position in shares of Uniti Group by 174.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 680,461 shares of the real estate investment trust’s stock valued at $4,015,000 after acquiring an additional 432,158 shares during the period. Inspire Investing LLC boosted its stake in shares of Uniti Group by 219.9% during the 1st quarter. Inspire Investing LLC now owns 210,840 shares of the real estate investment trust’s stock worth $1,244,000 after acquiring an additional 144,933 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Uniti Group by 7.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 75,441 shares of the real estate investment trust’s stock worth $445,000 after acquiring an additional 5,062 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Uniti Group by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 80,661 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 6,798 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Ronald J. Mudry sold 28,693 shares of Uniti Group stock in a transaction dated Tuesday, August 6th. The stock was 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 owns 513,761 shares in the company, valued at approximately $2,024,218.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

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

Uniti Group Price Performance

Shares of NASDAQ UNIT opened at $5.22 on Friday. The firm’s 50-day moving average is $4.35 and its two-hundred day moving average is $4.41. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.71. The company has a market capitalization of $1.25 billion, a PE ratio of 87.00 and a beta of 1.28.

Uniti Group (NASDAQ:UNIT) last posted its 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). The company had revenue of $294.90 million during the quarter, compared to analysts’ expectations of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. Uniti Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. On average, analysts forecast that Uniti Group Inc. will post 1.31 EPS for the current fiscal year.

Uniti Group 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.