Cbre Investment Management Listed Real Assets LLC Sells 375,000 Shares of Uniti Group Inc. $UNIT

Key Points

• Cbre Investment Management Listed Real Assets LLC sold 375,000 shares of Uniti Group Inc., reducing its holdings by 27.3% during the first quarter, leaving it with approximately 999,800 shares valued at $5,039,000.
• Uniti Group's stock has been rated with a consensus of Moderate Buy and has a price target of $6.70, with significant recent analyst movements like Wells Fargo increasing its target from $4.50 to $7.50.
• Uniti Group reported earnings of $0.36 per share for the last quarter, missing estimates, and experienced a 2.0% revenue increase year-over-year, with quarterly revenue at $300.73 million.

Cbre Investment Management Listed Real Assets LLC reduced its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 27.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999,800 shares of the real estate investment trust's stock after selling 375,000 shares during the period. Cbre Investment Management Listed Real Assets LLC owned approximately 0.41% of Uniti Group worth $5,039,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in UNIT. Wealth Enhancement Advisory Services LLC grew its position in Uniti Group by 10.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,834 shares of the real estate investment trust's stock worth $137,000 after acquiring an additional 2,447 shares in the last quarter. California State Teachers Retirement System lifted its stake in Uniti Group by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 228,227 shares of the real estate investment trust's stock worth $1,255,000 after purchasing an additional 3,287 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Uniti Group by 23.2% in the fourth quarter. Russell Investments Group Ltd. now owns 22,814 shares of the real estate investment trust's stock worth $125,000 after purchasing an additional 4,293 shares during the last quarter. KBC Group NV bought a new stake in Uniti Group in the first quarter worth $28,000. Finally, Pinebridge Investments L.P. lifted its stake in Uniti Group by 4.3% in the fourth quarter. Pinebridge Investments L.P. now owns 172,638 shares of the real estate investment trust's stock worth $950,000 after purchasing an additional 7,141 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UNIT has been the subject of several recent research reports. Wall Street Zen downgraded shares of Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Citigroup reissued a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a research note on Friday, May 16th. Finally, Wells Fargo & Company boosted their price target on shares of Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $6.70.

Uniti Group Price Performance

UNIT stock traded up $0.21 during trading on Tuesday, reaching $6.49. The company had a trading volume of 9,830,624 shares, compared to its average volume of 2,681,108. Uniti Group Inc. has a 52 week low of $5.89 and a 52 week high of $12.62. The company has a market cap of $960.39 million, a P/E ratio of 22.82 and a beta of 1.47. The business has a 50 day moving average of $5.36 and a 200 day moving average of $5.01.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly 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 the consensus estimate of $304.06 million. During the same period in the previous year, the company earned $0.34 earnings per share. 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. Research analysts expect 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.