Uniti Group Inc. $UNIT Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Uniti Group Inc. by 3.0%, holding approximately 2.67 million shares valued at $13.44 million following a sale of 81,614 shares in the first quarter.
• Other investors like Allspring Global Investments and Teacher Retirement System of Texas significantly increased their holdings in the same period, with Allspring growing its stake by 53.9%.
• Analysts have mixed ratings on Uniti Group, with a consensus of "Moderate Buy" and an average target price of $6.70, although the company reported a miss on EPS estimates in its latest earnings report.

Northern Trust Corp decreased its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,667,281 shares of the real estate investment trust's stock after selling 81,614 shares during the period. Northern Trust Corp owned 1.09% of Uniti Group worth $13,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. KBC Group NV purchased a new stake in Uniti Group during the first quarter worth approximately $28,000. American Century Companies Inc. purchased a new stake in Uniti Group during the first quarter worth approximately $65,000. Inspire Advisors LLC purchased a new stake in Uniti Group during the first quarter worth approximately $66,000. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Uniti Group during the first quarter worth approximately $67,000. Finally, Corton Capital Inc. purchased a new stake in Uniti Group during the first quarter worth approximately $86,000. Institutional investors and hedge funds own 87.51% of the company's stock.

Uniti Group Stock Performance

Shares of UNIT stock traded up $0.19 on Friday, hitting $6.44. The stock had a trading volume of 2,460,739 shares, compared to its average volume of 2,908,549. The firm has a market capitalization of $952.99 million, a price-to-earnings ratio of 23.41 and a beta of 1.50. The stock's 50 day moving average is $5.71 and its 200-day moving average is $5.05. Uniti Group Inc. has a 52-week low of $5.68 and a 52-week high of $12.62.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UNIT. Citigroup reaffirmed a "neutral" rating and issued a $5.30 target price on shares of Uniti Group in a research report on Friday, May 16th. Wells Fargo & Company upped their target price on Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Uniti Group currently 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.