44,700 Shares in Uniti Group Inc. $UNIT Acquired by Strs Ohio

Key Points

• Strs Ohio acquired 44,700 shares of Uniti Group Inc., totaling approximately $225,000, as part of a growing trend among institutional investors buying into the company.
• Despite positive movements from some analysts, including Wells Fargo raising the price target, Uniti Group's stock received downgrades from Zacks and Wall Street Zen, indicating mixed outlooks from analysts.
• Uniti Group reported earnings of $0.36 per share, missing estimates, while revenues came in at $300.73 million for the quarter, slightly below expectations, highlighting challenges in maintaining profitability.

Strs Ohio bought a new position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 44,700 shares of the real estate investment trust's stock, valued at approximately $225,000.

A number of other large investors have also made changes to their positions in UNIT. Intech Investment Management LLC lifted its position in shares of Uniti Group by 20.0% in the 1st quarter. Intech Investment Management LLC now owns 731,267 shares of the real estate investment trust's stock valued at $3,686,000 after acquiring an additional 122,029 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Uniti Group in the 1st quarter valued at approximately $80,000. Caxton Associates LLP purchased a new stake in shares of Uniti Group in the 1st quarter valued at approximately $946,000. Goldman Sachs Group Inc. lifted its position in shares of Uniti Group by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust's stock valued at $23,207,000 after acquiring an additional 877,911 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Uniti Group in the 1st quarter valued at approximately $161,000. Institutional investors and hedge funds own 87.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on UNIT shares. Wells Fargo & Company upped their price target on shares of Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Zacks Research downgraded shares of Uniti Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 10th. Finally, Wall Street Zen downgraded shares of Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $6.70.

Uniti Group Stock Down 3.9%

UNIT stock opened at $6.41 on Thursday. Uniti Group Inc. has a 12-month low of $5.68 and a 12-month high of $12.62. The company has a market cap of $948.55 million, a price-to-earnings ratio of 23.30 and a beta of 1.50. The company has a 50 day moving average of $6.32 and a two-hundred day moving average of $5.17.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The company had revenue of $300.73 million during the quarter, compared to analysts' expectations of $304.06 million. During the same quarter in the previous year, the company earned $0.34 EPS. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. Uniti Group has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current year.

Uniti Group Profile

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.

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