Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by Evergreen Capital Management LLC

Evergreen Capital Management LLC decreased its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 69.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,937 shares of the real estate investment trust’s stock after selling 36,959 shares during the period. Evergreen Capital Management LLC’s holdings in Uniti Group were worth $47,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its holdings in shares of Uniti Group by 8.1% in the second quarter. Public Sector Pension Investment Board now owns 528,634 shares of the real estate investment trust’s stock valued at $1,544,000 after buying an additional 39,423 shares during the period. ProShare Advisors LLC lifted its holdings in Uniti Group by 52.9% in the 2nd quarter. ProShare Advisors LLC now owns 73,454 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 25,403 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Uniti Group by 14.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,742,412 shares of the real estate investment trust’s stock valued at $5,088,000 after purchasing an additional 219,245 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Uniti Group in the 2nd quarter worth approximately $362,000. Finally, Inspire Advisors LLC acquired a new position in shares of Uniti Group in the 2nd quarter worth approximately $152,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Uniti Group Stock Performance

Uniti Group stock opened at $5.84 on Monday. The firm’s 50 day moving average price is $4.52 and its two-hundred day moving average price is $4.36. The firm has a market cap of $1.40 billion, a PE ratio of 97.33 and a beta of 1.28. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71.

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 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 business had revenue of $294.90 million during the quarter, compared to the consensus estimate of $289.97 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts anticipate that Uniti Group Inc. will post 1.31 EPS for the current fiscal year.

Insider Activity

In related news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 513,761 shares in the company, valued at approximately $2,024,218.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.39% of the stock is currently owned by insiders.

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.