56,767 Shares in Uniti Group Inc. $UNIT Purchased 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 purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 56,767 shares of the real estate investment trust's stock, valued at approximately $245,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Uniti Group by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust's stock valued at $186,464,000 after purchasing an additional 151,070 shares in the last quarter. LSV Asset Management raised its position in shares of Uniti Group by 0.7% in the 1st quarter. LSV Asset Management now owns 6,689,243 shares of the real estate investment trust's stock valued at $33,714,000 after purchasing an additional 45,724 shares in the last quarter. Goldman Sachs Group Inc. raised 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 purchasing an additional 877,911 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Uniti Group by 7.3% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,726,917 shares of the real estate investment trust's stock valued at $8,704,000 after purchasing an additional 118,095 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Uniti Group by 7.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,573,597 shares of the real estate investment trust's stock valued at $7,931,000 after purchasing an additional 110,697 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on UNIT. Zacks Research lowered Uniti Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 10th. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company boosted their price target on Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.70.

Uniti Group Trading Down 6.7%

UNIT stock traded down $0.46 during trading hours on Friday, hitting $6.42. 15,365,744 shares of the stock traded hands, compared to its average volume of 3,221,188. The stock has a 50-day simple moving average of $6.20 and a 200 day simple moving average of $5.14. Uniti Group Inc. has a one year low of $5.68 and a one year high of $12.62. The company has a market cap of $950.03 million, a P/E ratio of 23.33 and a beta of 1.50.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 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 company had revenue of $300.73 million for the quarter, compared to analysts' expectations of $304.06 million. During the same period in the prior year, the company earned $0.34 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Uniti Group has set its FY 2025 guidance at EPS. Analysts forecast that Uniti Group Inc. will post 1.28 earnings per share 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.