Shares of Uniti Group Inc. (NASDAQ:UNIT – Get Free Report) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $5.42, but opened at $5.69. Uniti Group shares last traded at $5.77, with a volume of 613,164 shares trading hands.
The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada raised their price target on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a research note on Monday, December 23rd.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in Uniti Group by 51.3% in the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 2,870 shares during the last quarter. Ballentine Partners LLC bought a new position in Uniti Group in the 3rd quarter valued at approximately $64,000. Pitcairn Co. bought a new position in Uniti Group in the 3rd quarter valued at approximately $69,000. Proficio Capital Partners LLC bought a new position in Uniti Group in the 4th quarter valued at approximately $68,000. Finally, Virtu Financial LLC bought a new position in Uniti Group in the 3rd quarter valued at approximately $70,000. Institutional investors own 87.51% of the company’s stock.
Uniti Group Stock Performance
The business’s fifty day moving average is $5.56 and its 200-day moving average is $5.39. The firm has a market cap of $1.37 billion, a P/E ratio of 13.71 and a beta of 1.31.
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.
Further Reading
- Five stocks we like better than Uniti Group
- What is a Special Dividend?
- 3 Stocks Poised to Thrive as NVIDIA Dominates the AI Boom
- ESG Stocks, What Investors Should Know
- MercadoLibre: High-Growth EM Stock With 100% Upside Potential
- NYSE Stocks Give Investors a Variety of Quality Options
- As the Magnificent 7 Stalls, These 3 Stocks Are Gaining Momentum
Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.
