MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in Uniti Group Inc. $UNIT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Uniti Group Inc. by 7.6% in Q1, owning about 1,573,597 shares valued at approximately $7.93 million.
• Several large investors also adjusted their positions in Uniti Group, with 87.51% of the stock held by hedge funds and institutional investors.
• Uniti Group's stock recently dropped 4.1%, with a current price of $6.85, and the company reported an EPS of $0.36, missing analyst estimates by $0.06.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,573,597 shares of the real estate investment trust's stock after purchasing an additional 110,697 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.64% of Uniti Group worth $7,931,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 151,070 shares during the last quarter. LSV Asset Management increased its position in shares of Uniti Group by 0.7% during the 1st quarter. LSV Asset Management now owns 6,689,243 shares of the real estate investment trust's stock valued at $33,714,000 after purchasing an additional 45,724 shares during the last quarter. Northern Trust Corp increased its position in shares of Uniti Group by 12.0% during the 4th quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust's stock valued at $15,119,000 after purchasing an additional 295,104 shares during the last quarter. Pinnacle Associates Ltd. grew 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 acquiring an additional 118,095 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Uniti Group by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,392,105 shares of the real estate investment trust's stock worth $7,016,000 after acquiring an additional 47,793 shares during the period. 87.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup reiterated a "neutral" rating and set a $5.30 price target on shares of Uniti Group in a research note on Friday, May 16th. Wall Street Zen downgraded Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company increased their price target on 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Uniti Group presently has a consensus rating of "Moderate Buy" and an average price target of $6.70.

Uniti Group Stock Down 4.1%

Shares of NASDAQ UNIT opened at $6.85 on Thursday. Uniti Group Inc. has a 52 week low of $5.68 and a 52 week high of $12.62. The business has a 50-day simple moving average of $5.87 and a two-hundred day simple moving average of $5.09. The company has a market cap of $1.01 billion, a P/E ratio of 24.90 and a beta of 1.50.

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 the consensus estimate 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 quarter in the prior year, the business earned $0.34 EPS. The firm'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. Equities research analysts anticipate that Uniti Group Inc. will post 1.28 EPS 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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