Vanguard Group Inc. Purchases 151,070 Shares of Uniti Group Inc. $UNIT

Key Points

• Vanguard Group Inc. has increased its stake in Uniti Group Inc. by 0.4%, bringing its total holdings to approximately $186.5 million or 15.07% of the company.
• Uniti Group's recent quarterly earnings report showed an EPS of $0.36, falling short of the consensus estimate of $0.42.
• Wall Street analysts have mixed opinions on Uniti Group, with an average price target of $6.70 and varying ratings from "neutral" to "sell."

Vanguard Group Inc. raised its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,996,734 shares of the real estate investment trust's stock after buying an additional 151,070 shares during the quarter. Vanguard Group Inc. owned 15.07% of Uniti Group worth $186,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in UNIT. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Uniti Group by 10.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,834 shares of the real estate investment trust's stock worth $137,000 after acquiring an additional 2,447 shares during the period. California State Teachers Retirement System boosted its position in shares of Uniti Group by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 228,227 shares of the real estate investment trust's stock valued at $1,255,000 after purchasing an additional 3,287 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Uniti Group by 23.2% during the 4th quarter. Russell Investments Group Ltd. now owns 22,814 shares of the real estate investment trust's stock valued at $125,000 after purchasing an additional 4,293 shares in the last quarter. KBC Group NV bought a new stake in shares of Uniti Group during the 1st quarter valued at about $28,000. Finally, Pinebridge Investments L.P. boosted its position in shares of Uniti Group by 4.3% during the 4th quarter. Pinebridge Investments L.P. now owns 172,638 shares of the real estate investment trust's stock valued at $950,000 after purchasing an additional 7,141 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

Analyst Ratings Changes

UNIT has been the topic of several research analyst reports. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company increased their price target on Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Citigroup reiterated a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Uniti Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.70.

Uniti Group Stock Performance

Shares of Uniti Group stock traded up $0.36 on Friday, hitting $6.33. The company had a trading volume of 1,727,868 shares, compared to its average volume of 2,610,068. The stock has a market capitalization of $936.71 million, a price-to-earnings ratio of 23.01 and a beta of 1.47. Uniti Group Inc. has a 1 year low of $5.89 and a 1 year high of $12.62. The stock has a 50 day moving average of $5.27 and a 200-day moving average of $5.00.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.36 EPS 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 analysts' expectations of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Uniti Group has set its FY 2025 guidance at EPS. Equities analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Uniti Group Company 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.