Pacer Advisors Inc. Buys 219,245 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Pacer Advisors Inc. boosted its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 14.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,742,412 shares of the real estate investment trust’s stock after buying an additional 219,245 shares during the quarter. Pacer Advisors Inc. owned 0.73% of Uniti Group worth $5,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Meeder Advisory Services Inc. bought a new position in Uniti Group during the 2nd quarter valued at about $36,000. Everhart Financial Group Inc. purchased a new position in shares of Uniti Group during the second quarter valued at approximately $41,000. Choreo LLC bought a new position in shares of Uniti Group during the second quarter valued at approximately $41,000. GAMMA Investing LLC raised its holdings in shares of Uniti Group by 49.8% in the first quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 2,960 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Uniti Group by 138.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 12,291 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $5.37 on Tuesday. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.71. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 89.50 and a beta of 1.28. The stock has a 50 day moving average price of $4.39 and a 200 day moving average price of $4.38.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS 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 business had revenue of $294.90 million during the quarter, compared to the consensus estimate of $289.97 million. During the same quarter in the prior year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts forecast that Uniti Group Inc. will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of Uniti Group 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 transaction, the senior vice president now directly owns 513,761 shares of the company’s stock, valued at $2,024,218.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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.

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.