Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 157,692 Uniti Group Inc. $UNIT

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 157,692 shares of the real estate investment trust's stock, valued at approximately $795,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Uniti Group at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Uniti Group by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 32,531 shares of the real estate investment trust's stock valued at $170,000 after buying an additional 11,395 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Uniti Group by 309.5% in the 1st quarter. Teacher Retirement System of Texas now owns 218,813 shares of the real estate investment trust's stock valued at $1,103,000 after acquiring an additional 165,383 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Uniti Group by 30.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,130,604 shares of the real estate investment trust's stock valued at $6,218,000 after acquiring an additional 260,740 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in 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 acquiring an additional 118,095 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Uniti Group in the 4th quarter valued at $2,418,000. Hedge funds and other institutional investors own 87.51% of the company's stock.

Uniti Group Price Performance

NASDAQ UNIT traded down $0.0750 during trading hours on Thursday, hitting $6.0250. The company had a trading volume of 1,321,966 shares, compared to its average volume of 1,249,790. Uniti Group Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $12.62. The company has a market capitalization of $891.58 million, a price-to-earnings ratio of 21.90 and a beta of 1.47. The firm's 50 day moving average is $5.19 and its 200 day moving average is $4.99.

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 company had revenue of $300.73 million during the quarter, compared to analyst estimates of $304.06 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The firm'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. On average, equities analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on UNIT shares. Citigroup restated a "neutral" rating and set a $5.30 price objective on shares of Uniti Group in a report on Friday, May 16th. Wells Fargo & Company upped their price objective on Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $6.70.

About Uniti Group

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.