Intech Investment Management LLC Acquires 122,029 Shares of Uniti Group Inc. $UNIT

Key Points

• Intech Investment Management LLC increased its stake in Uniti Group by 20%, acquiring a total of 731,267 shares valued at approximately $3.686 million.
• Uniti Group reported $0.36 EPS for the quarter, falling short of the $0.42 consensus estimate, with a revenue of $300.73 million.
• Several analysts have recently downgraded Uniti Group's rating, including Zacks reducing it to a "strong sell" and Wall Street Zen dropping it from "hold" to "sell", leading to a current consensus rating of "Hold".

Intech Investment Management LLC increased its position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 731,267 shares of the real estate investment trust's stock after purchasing an additional 122,029 shares during the quarter. Intech Investment Management LLC owned approximately 0.30% of Uniti Group worth $3,686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UNIT. Nuveen LLC bought a new position in shares of Uniti Group during the first quarter valued at $6,158,000. Goldman Sachs Group Inc. increased its stake in shares of Uniti Group by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust's stock valued at $23,207,000 after buying an additional 877,911 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Uniti Group in the fourth quarter valued at $2,450,000. Public Sector Pension Investment Board increased its stake in shares of Uniti Group by 65.4% in the first quarter. Public Sector Pension Investment Board now owns 1,005,669 shares of the real estate investment trust's stock valued at $5,069,000 after buying an additional 397,499 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Uniti Group by 921.4% in the first quarter. Mackenzie Financial Corp now owns 306,812 shares of the real estate investment trust's stock valued at $1,546,000 after buying an additional 276,774 shares in the last quarter. 87.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UNIT shares. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company raised their target price on Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Zacks Research lowered Uniti Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 10th. One investment 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $6.70.

Uniti Group Price Performance

Shares of Uniti Group stock traded up $0.27 during trading on Thursday, hitting $6.88. 2,485,633 shares of the company were exchanged, compared to its average volume of 3,224,464. The firm has a market capitalization of $1.02 billion, a P/E ratio of 25.01 and a beta of 1.50. Uniti Group Inc. has a 1-year low of $5.68 and a 1-year high of $12.62. The firm's fifty day moving average price is $6.16 and its 200 day moving average price is $5.13.

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 (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). The company had revenue of $300.73 million for the quarter, compared to analyst estimates of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.Uniti Group's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Uniti Group has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current year.

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.