Sonora Investment Management Group LLC Increases Stock Position in Uniti Group Inc. $UNIT

Key Points

• Sonora Investment Management Group LLC increased its stake in Uniti Group Inc. by 13.9%, acquiring an additional 40,955 shares during the 2nd quarter, bringing its total to 335,290 shares.
• Uniti Group's stock has seen mixed analyst ratings, with Zacks Research downgrading the stock to a "strong sell" and a price target set at $6.70.
• Uniti Group reported Q2 earnings of $0.36 per share, missing estimates by $0.06, with revenue of $300.73 million, slightly below the consensus estimate of $304.06 million.

Sonora Investment Management Group LLC boosted its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 13.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,290 shares of the real estate investment trust's stock after acquiring an additional 40,955 shares during the period. Sonora Investment Management Group LLC owned 0.14% of Uniti Group worth $1,448,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Uniti Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust's stock valued at $186,464,000 after acquiring an additional 151,070 shares in the last quarter. LSV Asset Management raised its holdings in shares of Uniti Group by 0.7% during the first 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 during the period. Goldman Sachs Group Inc. raised its holdings in shares of Uniti Group by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust's stock worth $23,207,000 after purchasing an additional 877,911 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of Uniti Group by 7.3% during the first quarter. Pinnacle Associates Ltd. now owns 1,726,917 shares of the real estate investment trust's stock worth $8,704,000 after purchasing an additional 118,095 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Uniti Group by 7.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,573,597 shares of the real estate investment trust's stock worth $7,931,000 after purchasing an additional 110,697 shares during the period. 87.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Zacks Research cut shares of Uniti Group from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 10th. Wall Street Zen cut shares of Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company increased their price objective on shares of Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.70.

Uniti Group Price Performance

UNIT opened at $6.19 on Friday. The company has a market capitalization of $916.00 million, a P/E ratio of 22.50 and a beta of 1.50. The firm's fifty day moving average price is $6.37 and its two-hundred day moving average price is $5.18. Uniti Group Inc. has a fifty-two week low of $5.68 and a fifty-two week 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 (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $300.73 million during the quarter, compared to the consensus estimate of $304.06 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. Uniti Group has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Uniti Group Inc. will post 1.28 EPS 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.

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