Nuveen LLC Invests $6.16 Million in Uniti Group Inc. $UNIT

Key Points

• Nuveen LLC has acquired 1,221,740 shares of Uniti Group Inc., representing a new investment worth approximately $6.16 million, bringing its total ownership to about 0.50% of the company.
• Uniti Group reported earnings per share (EPS) of $0.36 for the last quarter, which missed analysts' expectations by $0.06, along with a revenue of $300.73 million, slightly below forecasts.
• Analysts have given Uniti Group a moderate buy rating with a consensus price target of $6.70, although ratings vary with some downgrading to a "sell" and others suggesting a neutral stance.

Nuveen LLC purchased a new position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,221,740 shares of the real estate investment trust's stock, valued at approximately $6,158,000. Nuveen LLC owned approximately 0.50% of Uniti Group as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Uniti Group by 0.4% in the 1st 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 in the last quarter. LSV Asset Management boosted its position in shares of Uniti Group by 0.7% in the 1st quarter. LSV Asset Management now owns 6,689,243 shares of the real estate investment trust's stock worth $33,714,000 after purchasing an additional 45,724 shares in the last quarter. Apollo Management Holdings L.P. boosted its position in shares of Uniti Group by 4.6% in the 4th quarter. Apollo Management Holdings L.P. now owns 5,239,917 shares of the real estate investment trust's stock worth $28,820,000 after purchasing an additional 231,977 shares in the last quarter. Northern Trust Corp boosted its position in shares of Uniti Group by 12.0% in the 4th quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust's stock worth $15,119,000 after purchasing an additional 295,104 shares in the last quarter. Finally, King Street Capital Management L.P. boosted its position in shares of Uniti Group by 66.7% in the 4th quarter. King Street Capital Management L.P. now owns 2,600,000 shares of the real estate investment trust's stock worth $14,300,000 after purchasing an additional 1,040,000 shares in the last quarter. 87.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on UNIT shares. Wall Street Zen cut Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company boosted their price target 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, Citigroup reissued a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Uniti Group presently has a consensus rating of "Moderate Buy" and an average target price of $6.70.

Uniti Group Stock Performance

Shares of NASDAQ UNIT traded down $0.04 during midday trading on Thursday, hitting $6.59. 2,193,171 shares of the stock traded hands, compared to its average volume of 3,130,784. The firm has a 50-day moving average of $5.47 and a two-hundred day moving average of $5.03. The firm has a market capitalization of $975.19 million, a P/E ratio of 23.95 and a beta of 1.47. Uniti Group Inc. has a one year low of $5.89 and a one year high of $12.62.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. Uniti Group has set its FY 2025 guidance at EPS. Equities analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal 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.