Uniti Group Inc. (NASDAQ:UNIT) Shares Purchased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its stake in Uniti Group Inc. (NASDAQ:UNIT) by 45.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,752 shares of the real estate investment trust’s stock after acquiring an additional 94,619 shares during the period. Texas Permanent School Fund Corp owned 0.13% of Uniti Group worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Uniti Group by 49.8% in the 1st quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 2,960 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Uniti Group in the first quarter valued at approximately $75,000. Everhart Financial Group Inc. acquired a new stake in shares of Uniti Group in the second quarter valued at approximately $41,000. Choreo LLC acquired a new stake in shares of Uniti Group in the second quarter valued at approximately $41,000. Finally, MQS Management LLC purchased a new position in shares of Uniti Group during the first quarter worth approximately $93,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Uniti Group

In other news, SVP Ronald J. Mudry sold 28,693 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total value of $113,050.42. Following the completion of the sale, the senior vice president now owns 513,761 shares in the company, valued at approximately $2,024,218.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.39% of the stock is currently owned by corporate insiders.

Uniti Group Stock Down 2.1 %

Shares of UNIT stock opened at $5.22 on Friday. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.71. The stock’s 50-day moving average price is $4.35 and its 200 day moving average price is $4.41. The stock has a market capitalization of $1.25 billion, a PE ratio of 87.00 and a beta of 1.28.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (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 period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts expect that Uniti Group Inc. will post 1.31 earnings per share for the current fiscal year.

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.