Public Sector Pension Investment Board Acquires 397,499 Shares of Uniti Group Inc. $UNIT

Key Points

• The Public Sector Pension Investment Board increased its stake in Uniti Group Inc. by 65.4%, acquiring an additional 397,499 shares, bringing its total ownership to over 1 million shares valued at approximately $5.07 million.
• Several institutional investors, including KBC Group NV and Inspire Advisors LLC, have also made new investments in Uniti Group during the first quarter, contributing to a total institutional ownership of 87.51%.
• Uniti Group reported earnings of $0.36 per share for the last quarter, which was below analysts' expectations of $0.42, with a revenue of $300.73 million versus the anticipated $304.06 million.

Public Sector Pension Investment Board lifted its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 65.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,005,669 shares of the real estate investment trust's stock after buying an additional 397,499 shares during the quarter. Public Sector Pension Investment Board owned about 0.41% of Uniti Group worth $5,069,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of UNIT. KBC Group NV acquired a new stake in shares of Uniti Group during the 1st quarter worth approximately $28,000. Inspire Advisors LLC bought a new stake in shares of Uniti Group during the 1st quarter worth $66,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in Uniti Group in the 1st quarter valued at about $67,000. Corton Capital Inc. bought a new stake in Uniti Group in the 1st quarter valued at about $86,000. Finally, New Age Alpha Advisors LLC purchased a new position in Uniti Group during the 1st quarter valued at about $87,000. Institutional investors and hedge funds own 87.51% of the company's stock.

Uniti Group Trading Down 1.4%

UNIT stock traded down $0.0850 during midday trading on Thursday, hitting $6.0150. The company had a trading volume of 1,214,917 shares, compared to its average volume of 1,249,080. Uniti Group Inc. has a 52 week low of $6.00 and a 52 week high of $12.62. The stock's 50 day moving average price is $5.19 and its 200 day moving average price is $4.99. The stock has a market cap of $890.10 million, a price-to-earnings ratio of 21.86 and a beta of 1.47.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $300.73 million during 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%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. Uniti Group has set its FY 2025 guidance at EPS. Analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on UNIT. Citigroup reaffirmed a "neutral" rating and set a $5.30 target price on shares of Uniti Group in a report on Friday, May 16th. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, 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 note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $6.70.

Uniti Group Profile

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.