Helix Partners Management LP Lowers Position in Uniti Group Inc. $UNIT

Key Points

• Helix Partners Management LP reduced its stake in Uniti Group by 27.3%, selling 75,000 shares and now holding 200,000 shares, which is approximately 0.3% of its investment portfolio.
• Other institutional investors, including Allspring Global and Vanguard Group, have increased their holdings in Uniti Group during the same period, indicating mixed investor sentiment.
• Uniti Group reported disappointing quarterly results, with earnings per share of $0.36, falling short of analysts' expectations of $0.42, as revenues also missed projections.

Helix Partners Management LP trimmed its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 27.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the real estate investment trust's stock after selling 75,000 shares during the period. Uniti Group makes up approximately 0.3% of Helix Partners Management LP's investment portfolio, making the stock its 9th largest position. Helix Partners Management LP owned about 0.08% of Uniti Group worth $1,008,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings 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 worth $170,000 after buying an additional 11,395 shares during the period. Vanguard Group Inc. boosted its position in Uniti Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust's stock worth $186,464,000 after purchasing an additional 151,070 shares during the last quarter. Teacher Retirement System of Texas grew its position in Uniti Group by 309.5% during the first 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 buying an additional 165,383 shares during the period. Nuveen Asset Management LLC increased its holdings in Uniti Group by 30.0% during the fourth 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 buying an additional 260,740 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Uniti Group by 7.3% in the first quarter. Pinnacle Associates Ltd. now owns 1,726,917 shares of the real estate investment trust's stock worth $8,704,000 after acquiring an additional 118,095 shares during the period. 87.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UNIT has been the topic of a number of research analyst reports. Citigroup reissued a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a report on Friday, May 16th. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company upped their price objective 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 research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $6.70.

Uniti Group Stock Up 3.3%

Shares of Uniti Group stock opened at $6.49 on Wednesday. The firm has a market cap of $960.39 million, a PE ratio of 23.59 and a beta of 1.47. Uniti Group Inc. has a 52 week low of $5.89 and a 52 week high of $12.62. The business's fifty day simple moving average is $5.36 and its 200-day simple moving average is $5.01.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued 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). The business had revenue of $300.73 million for the quarter, compared to analysts' expectations of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Uniti Group has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Uniti Group Inc. will post 1.28 earnings per share for the current year.

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.

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