Jacobs Levy Equity Management Inc. acquired a new position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 162,021 shares of the real estate investment trust's stock, valued at approximately $817,000. Jacobs Levy Equity Management Inc. owned 0.07% of Uniti Group at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in UNIT. AQR Capital Management LLC lifted its stake in Uniti Group by 20.7% in the first quarter. AQR Capital Management LLC now owns 1,134,963 shares of the real estate investment trust's stock valued at $5,720,000 after buying an additional 195,011 shares during the last quarter. Paloma Partners Management Co raised its stake in shares of Uniti Group by 5.0% during the first quarter. Paloma Partners Management Co now owns 1,343,000 shares of the real estate investment trust's stock valued at $6,769,000 after purchasing an additional 63,480 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Uniti Group by 10.1% during the first quarter. Royal Bank of Canada now owns 198,000 shares of the real estate investment trust's stock valued at $998,000 after purchasing an additional 18,165 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Uniti Group by 287.9% during the first quarter. Panagora Asset Management Inc. now owns 318,066 shares of the real estate investment trust's stock valued at $1,603,000 after purchasing an additional 236,061 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Uniti Group by 14.1% during the first quarter. State of Wyoming now owns 51,084 shares of the real estate investment trust's stock valued at $257,000 after purchasing an additional 6,317 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.
Uniti Group Stock Performance
UNIT traded up $0.27 during trading on Thursday, reaching $6.88. The company had a trading volume of 2,485,633 shares, compared to its average volume of 3,224,464. The firm's 50-day simple moving average is $6.16 and its 200 day simple moving average is $5.13. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 25.01 and a beta of 1.50. Uniti Group Inc. has a 12-month low of $5.68 and a 12-month high of $12.62.
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 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 analysts' expectations of $304.06 million. During the same period in the prior year, the business posted $0.34 EPS. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. Uniti Group has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Uniti Group Inc. will post 1.28 EPS for the current year.
Analysts Set New Price Targets
UNIT has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Wall Street Zen cut shares of Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Zacks Research cut shares of Uniti Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Uniti Group presently has an average rating of "Hold" and an average price target of $6.70.
Check Out Our Latest Stock Report on Uniti Group
About Uniti Group
(
Free Report)
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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