Uniti Group (NASDAQ:UNIT) Announces Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Uniti Group reported a quarterly earnings per share (EPS) of $0.36, falling short of analysts' expectations of $0.42, with a revenue of $300.73 million compared to the projected $304.06 million.
• The company's stock price dropped 11.9% to $7.13 following the earnings release, marking a significant decline in trading volume.
• Institutional investors own 87.51% of Uniti Group's stock, with notable stake increases from Royal Bank of Canada and Goldman Sachs Group in the first quarter.

Uniti Group (NASDAQ:UNIT - Get Free Report) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06), Briefing.com reports. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%. The firm had revenue of $300.73 million during the quarter, compared to analyst estimates of $304.06 million. During the same period last year, the business earned $0.34 EPS. The firm's revenue was up 2.0% on a year-over-year basis. Uniti Group updated its FY 2025 guidance to EPS.

Uniti Group Trading Down 9.4%

Shares of UNIT traded down $0.66 during midday trading on Friday, hitting $6.35. The stock had a trading volume of 3,285,058 shares, compared to its average volume of 2,138,691. Uniti Group has a fifty-two week low of $6.32 and a fifty-two week high of $12.62. The business has a 50-day simple moving average of $4.85 and a two-hundred day simple moving average of $4.94. The firm has a market cap of $939.67 million, a P/E ratio of 23.08 and a beta of 1.47.

Analysts Set New Price Targets

UNIT has been the topic of a number of analyst reports. Citigroup reaffirmed 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 cut shares of Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Wells Fargo & Company raised their target price 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Uniti Group has a consensus rating of "Hold" and a consensus target price of $6.70.

Institutional Trading of Uniti Group

Institutional investors have recently made changes to their positions in the stock. United Services Automobile Association acquired a new stake in Uniti Group in the first quarter valued at approximately $80,000. Royal Bank of Canada lifted its stake in Uniti Group by 10.1% in the first quarter. Royal Bank of Canada now owns 198,000 shares of the real estate investment trust's stock valued at $998,000 after acquiring an additional 18,165 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Uniti Group in the first quarter valued at approximately $161,000. Finally, Goldman Sachs Group Inc. raised its position 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 purchasing an additional 877,911 shares during the period. 87.51% of the stock is currently owned by institutional investors and hedge funds.

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.