Invesco Ltd. Lowers Stock Position in Uniti Group Inc. $UNIT

Key Points

• Invesco Ltd. reduced its stake in Uniti Group by 5.6%, selling 46,554 shares, and now owns approximately 778,904 shares of the real estate investment trust worth about $3.93 million.
• Uniti Group reported a $0.36 earnings per share for the last quarter, missing analyst expectations of $0.42, with revenue of $300.73 million compared to a consensus estimate of $304.06 million.
• Recent analyst ratings for Uniti Group include Wells Fargo increasing its price target from $4.50 to $7.50 and a downgrade from Wall Street Zen from "hold" to "sell."

Invesco Ltd. reduced its holdings in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 5.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 778,904 shares of the real estate investment trust's stock after selling 46,554 shares during the period. Invesco Ltd. owned approximately 0.32% of Uniti Group worth $3,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Uniti Group by 53.9% during 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 during the period. Vanguard Group Inc. raised its holdings in Uniti Group by 0.4% during 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 buying an additional 151,070 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Uniti Group by 309.5% during the 1st quarter. Teacher Retirement System of Texas now owns 218,813 shares of the real estate investment trust's stock worth $1,103,000 after purchasing an additional 165,383 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Uniti Group by 30.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,130,604 shares of the real estate investment trust's stock worth $6,218,000 after purchasing an additional 260,740 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Uniti Group by 7.3% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,726,917 shares of the real estate investment trust's stock worth $8,704,000 after purchasing an additional 118,095 shares during the period. Hedge funds and other institutional investors own 87.51% of the company's stock.

Uniti Group Price Performance

UNIT stock traded down $0.35 during mid-day trading on Tuesday, reaching $5.96. The company had a trading volume of 1,082,192 shares, compared to its average volume of 1,344,710. The company has a market capitalization of $881.22 million, a PE ratio of 21.72 and a beta of 1.51. The firm has a 50 day moving average of $5.55 and a 200 day moving average of $5.03. Uniti Group Inc. has a 12 month low of $5.89 and a 12 month high of $12.62.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company lifted 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. Finally, Citigroup reaffirmed a "neutral" rating and set a $5.30 price target on shares of Uniti Group in a research note on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $6.70.

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.