State of Alaska Department of Revenue Has $1.42 Million Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

State of Alaska Department of Revenue reduced its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 252,722 shares of the real estate investment trust’s stock after selling 2,837 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.11% of Uniti Group worth $1,423,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of UNIT. Mackenzie Financial Corp raised its position in shares of Uniti Group by 9.6% during the second quarter. Mackenzie Financial Corp now owns 30,923 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 2,711 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Uniti Group by 14.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,387 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 2,852 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of 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 worth $1,228,000 after purchasing an additional 2,938 shares during the period. Hancock Whitney Corp boosted its stake in shares of 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 purchasing an additional 3,254 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Uniti Group by 7.5% during the first quarter. ProShare Advisors LLC now owns 48,051 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 3,339 shares during the period. Institutional investors own 87.51% of the company’s stock.

Insider Activity

In related news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,024,218.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.39% of the stock is currently owned by company insiders.

Uniti Group Stock Performance

Shares of UNIT opened at $5.28 on Monday. The firm has a market cap of $1.29 billion, a PE ratio of 12.88 and a beta of 1.31. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.71. The business’s 50 day moving average price is $5.28 and its two-hundred day moving average price is $4.29.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.28). Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The company had revenue of $294.90 million during the quarter, compared to analyst estimates of $289.97 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts predict that Uniti Group Inc. will post 1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.