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Pacer Advisors Inc. Sells 672,555 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Uniti Group logo with Finance background

Key Points

  • Pacer Advisors Inc. has reduced its stake in Uniti Group Inc. by 34.9%, selling 672,555 shares in the 1st quarter, now owning 1,256,917 shares valued at approximately $6.3 million.
  • Uniti Group reported $0.35 earnings per share for the most recent quarter, matching consensus estimates, while revenue increased by 2.6% year-over-year.
  • Several analysts have set new price targets for Uniti Group, with Citigroup maintaining a "neutral" rating and a target price of $5.30, while Wells Fargo revised their target down to $4.50.
  • Five stocks we like better than Uniti Group.

Pacer Advisors Inc. lowered its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 34.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,256,917 shares of the real estate investment trust's stock after selling 672,555 shares during the period. Pacer Advisors Inc. owned approximately 0.51% of Uniti Group worth $6,335,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in UNIT. Raymond James Financial Inc. acquired a new stake in shares of Uniti Group in the fourth quarter worth $2,418,000. Teacher Retirement System of Texas acquired a new position in Uniti Group during the 4th quarter worth approximately $294,000. KLP Kapitalforvaltning AS acquired a new stake in Uniti Group in the fourth quarter valued at approximately $273,000. Prudential Financial Inc. lifted its position in shares of Uniti Group by 9.2% during the fourth quarter. Prudential Financial Inc. now owns 589,789 shares of the real estate investment trust's stock worth $3,244,000 after purchasing an additional 49,537 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Uniti Group by 10.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 168,214 shares of the real estate investment trust's stock valued at $922,000 after purchasing an additional 16,112 shares during the period. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Price Performance

Shares of Uniti Group stock traded down $0.22 during trading on Thursday, hitting $5.42. The stock had a trading volume of 855,467 shares, compared to its average volume of 2,180,752. The business has a fifty day moving average of $4.54 and a two-hundred day moving average of $4.90. Uniti Group Inc. has a fifty-two week low of $3.51 and a fifty-two week high of $6.31. The firm has a market cap of $1.33 billion, a P/E ratio of 20.87 and a beta of 1.46.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Uniti Group had a net margin of 5.45% and a negative return on equity of 2.60%. The company had revenue of $293.91 million during the quarter, compared to analyst estimates of $295.39 million. During the same quarter last year, the firm posted $0.32 EPS. The business's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on UNIT shares. Wells Fargo & Company cut their price objective on shares of Uniti Group from $5.00 to $4.50 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Citigroup reaffirmed a "neutral" rating and set a $5.30 price objective on shares of Uniti Group in a research report on Friday, May 16th.

Read Our Latest Stock Report on UNIT

Uniti Group Profile

(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.

See Also

Institutional Ownership by Quarter for Uniti Group (NASDAQ:UNIT)

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