56,767 Shares in Uniti Group Inc. $UNIT Acquired by Gallacher Capital Management LLC

Key Points

• Gallacher Capital Management LLC has acquired a new stake in Uniti Group Inc., purchasing 56,767 shares valued at approximately $245,000 during the second quarter.
• Institutional investors own 87.51% of Uniti Group's stock, indicating strong institutional interest and activity surrounding the company's shares.
• Analysts have mixed views on Uniti Group, with one rating the stock as a Strong Buy and others issuing ratings ranging from Sell to Hold, with an average price target of $6.70.

Gallacher Capital Management LLC acquired a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 56,767 shares of the real estate investment trust's stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in UNIT. Inspire Investing LLC raised its position in shares of Uniti Group by 9.6% during the first quarter. Inspire Investing LLC now owns 80,743 shares of the real estate investment trust's stock worth $407,000 after acquiring an additional 7,092 shares during the last quarter. Strs Ohio bought a new stake in Uniti Group during the 1st quarter worth about $225,000. Intech Investment Management LLC lifted its position in Uniti Group by 20.0% during 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 purchasing an additional 122,029 shares during the period. United Services Automobile Association bought a new position in shares of Uniti Group in the 1st quarter valued at about $80,000. Finally, Caxton Associates LLP bought a new position in shares of Uniti Group in the 1st quarter valued at about $946,000. 87.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UNIT. Wall Street Zen lowered shares of Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Wells Fargo & Company upped their target price 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. Finally, Zacks Research downgraded Uniti Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.70.

Uniti Group Stock Performance

Shares of NASDAQ:UNIT opened at $6.77 on Tuesday. The company has a 50 day moving average price of $6.03 and a two-hundred day moving average price of $5.10. The company has a market capitalization of $1.00 billion, a PE ratio of 24.61 and a beta of 1.51. Uniti Group Inc. has a 52 week low of $5.68 and a 52 week high of $12.62.

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

Uniti Group Company 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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