14,838 Shares in Uniti Group Inc. (NASDAQ:UNIT) Bought by Choreo LLC

Choreo LLC acquired a new position in Uniti Group Inc. (NASDAQ:UNIT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,838 shares of the real estate investment trust’s stock, valued at approximately $41,000.

Several other institutional investors also recently modified their holdings of UNIT. Strategic Financial Concepts LLC boosted its position in Uniti Group by 352.0% during the second quarter. Strategic Financial Concepts LLC now owns 653,203 shares of the real estate investment trust’s stock valued at $1,907,000 after acquiring an additional 508,699 shares during the last quarter. Range Financial Group LLC bought a new stake in Uniti Group during the second quarter valued at $140,000. Van ECK Associates Corp boosted its position in Uniti Group by 9.3% during the second quarter. Van ECK Associates Corp now owns 50,294 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 4,271 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Uniti Group by 26.8% during the second quarter. Crossmark Global Holdings Inc. now owns 49,162 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 10,398 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Uniti Group by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 1,869,032 shares of the real estate investment trust’s stock valued at $5,458,000 after acquiring an additional 74,832 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Down 2.1 %

Shares of NASDAQ UNIT opened at $5.22 on Friday. The firm’s 50-day moving average price is $4.35 and its 200-day moving average price is $4.41. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71. The firm has a market capitalization of $1.25 billion, a P/E ratio of 87.00 and a beta of 1.28.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.28). Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. The company had revenue of $294.90 million for the quarter, compared to analyst estimates of $289.97 million. During the same quarter in the prior year, the company posted $0.34 EPS. Uniti Group’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts forecast that Uniti Group Inc. will post 1.31 EPS for the current year.

Insider Activity

In other news, SVP Ronald J. Mudry sold 28,693 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total transaction of $113,050.42. Following the transaction, the senior vice president now owns 513,761 shares in the company, valued at $2,024,218.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a research report on Thursday, August 29th.

About Uniti Group

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.