Russell Investments Group Ltd. Raises Stake in Uniti Group Inc. $UNIT

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Uniti Group Inc. by 457.8% in the first quarter, owning 127,265 shares worth approximately $641,000.
• Several institutional investors also increased their investments, including Public Sector Pension Investment Board, which raised its stake by 65.4%, now owning over $5 million in Uniti Group shares.
• Uniti Group's stock has an average target price of $6.70 and the company recently reported earnings of $0.36 per share, missing estimates by $0.06.

Russell Investments Group Ltd. raised its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 457.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,265 shares of the real estate investment trust's stock after purchasing an additional 104,451 shares during the period. Russell Investments Group Ltd. owned 0.05% of Uniti Group worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. KBC Group NV acquired a new stake in Uniti Group during the 1st quarter worth about $28,000. Inspire Advisors LLC acquired a new stake in shares of Uniti Group during the 1st quarter valued at about $66,000. Pinnacle Wealth Management Advisory Group LLC acquired a new position in Uniti Group in the 1st quarter worth about $67,000. Corton Capital Inc. acquired a new stake in Uniti Group in the first quarter valued at approximately $86,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Uniti Group during the 1st quarter valued at approximately $87,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Trading Up 0.5%

UNIT stock traded up $0.03 during midday trading on Thursday, hitting $6.06. 471,670 shares of the company's stock were exchanged, compared to its average volume of 1,362,644. Uniti Group Inc. has a 1-year low of $5.68 and a 1-year high of $12.62. The stock has a market capitalization of $897.20 million, a PE ratio of 22.12 and a beta of 1.50. The business has a 50-day simple moving average of $5.62 and a two-hundred day simple moving average of $5.05.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted 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). Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. The company had revenue of $300.73 million during the quarter, compared to analyst estimates of $304.06 million. During the same quarter last year, the business posted $0.34 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. Uniti Group has set its FY 2025 guidance at EPS. As a group, research analysts expect that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup restated a "neutral" rating and issued a $5.30 price objective on shares of Uniti Group in a report on Friday, May 16th. Wall Street Zen downgraded shares of Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company upped their price objective on shares of Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.