Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,449 shares of the real estate investment trust’s stock after selling 7,604 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Uniti Group worth $582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Uniti Group by 1.4% during the first quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock worth $226,809,000 after purchasing an additional 542,485 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Uniti Group by 352.0% in 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 purchasing an additional 508,699 shares during the period. Jupiter Asset Management Ltd. increased its position in Uniti Group by 174.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 680,461 shares of the real estate investment trust’s stock worth $4,015,000 after purchasing an additional 432,158 shares during the period. Nomura Holdings Inc. boosted its holdings in Uniti Group by 94.1% during the fourth quarter. Nomura Holdings Inc. now owns 588,078 shares of the real estate investment trust’s stock worth $3,399,000 after buying an additional 285,112 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in shares of Uniti Group by 21.2% during the 1st quarter. Mizuho Markets Americas LLC now owns 1,363,762 shares of the real estate investment trust’s stock worth $8,046,000 after buying an additional 239,000 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Insiders Place Their Bets

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total transaction of $113,050.42. Following the sale, the senior vice president now owns 513,761 shares in the company, valued at approximately $2,024,218.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.39% of the stock is owned by insiders.

Uniti Group Trading Down 1.8 %

Shares of UNIT stock opened at $5.45 on Wednesday. The company has a market capitalization of $1.31 billion, a PE ratio of 90.83 and a beta of 1.29. The firm has a fifty day simple moving average of $4.79 and a 200-day simple moving average of $4.32. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $289.97 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Uniti Group Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

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

Uniti Group Company Profile

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.