1,368,867 Shares in Uniti Group Inc. $UNIT Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 1.37 million Uniti Group shares worth approximately $15.7 million, giving it a 0.56% stake. Institutional investors and hedge funds collectively own 87.51% of the company.
• Uniti Group’s shares were trading at $9.92, down 1%, while the company’s latest quarterly results missed EPS expectations despite revenue exceeding analyst estimates.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $10.92, with recent target changes ranging from $11.00 to $13.00.

Bank of New York Mellon Corp purchased a new position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,368,867 shares of the real estate investment trust's stock, valued at approximately $15,701,000. Bank of New York Mellon Corp owned approximately 0.56% of Uniti Group at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. KBC Group NV acquired a new position in shares of Uniti Group in the 1st quarter worth approximately $43,000. Hilton Head Capital Partners LLC bought a new stake in Uniti Group during the fourth quarter worth approximately $40,000. Mercer Global Advisors Inc. ADV acquired a new position in Uniti Group in the fourth quarter worth approximately $72,000. Osaic Holdings Inc. increased its holdings in shares of Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 1,795 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Uniti Group in the first quarter valued at $100,000. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Trading Down 1.0%

NASDAQ:UNIT opened at $9.92 on Tuesday. The business's fifty day moving average price is $10.46 and its 200 day moving average price is $10.20. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 3.66 and a beta of 1.40. Uniti Group Inc. has a 1-year low of $5.30 and a 1-year high of $12.94.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.23). The business had revenue of $909.70 million for the quarter, compared to analyst estimates of $884.82 million. Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%. Equities analysts forecast that Uniti Group Inc. will post -2.09 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on UNIT shares. TD Cowen reduced their price objective on Uniti Group from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, July 31st. JPMorgan Chase & Co. cut their target price on Uniti Group from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Barclays increased their price target on Uniti Group from $11.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 1st. UBS Group set a $12.00 price target on Uniti Group in a research note on Tuesday, May 12th. Finally, Citigroup upped their price objective on shares of Uniti Group from $9.00 to $11.75 and gave the company a "neutral" rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $10.92.

Uniti Group Company Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company's assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti's portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.

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