Jupiter Asset Management Ltd. Has $3.12 Million Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Jupiter Asset Management Ltd. boosted its position in Uniti Group Inc. (NASDAQ:UNIT) by 56.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,067,079 shares of the real estate investment trust’s stock after purchasing an additional 386,618 shares during the period. Jupiter Asset Management Ltd. owned about 0.44% of Uniti Group worth $3,116,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Uniti Group by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock worth $226,809,000 after acquiring an additional 542,485 shares during the period. LSV Asset Management lifted its holdings in Uniti Group by 1.3% during the 1st quarter. LSV Asset Management now owns 7,276,879 shares of the real estate investment trust’s stock valued at $42,934,000 after purchasing an additional 91,408 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Uniti Group by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,858,573 shares of the real estate investment trust’s stock worth $39,643,000 after purchasing an additional 414,810 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Uniti Group by 4.2% in 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 purchasing an additional 74,832 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Uniti Group in the fourth quarter valued at about $9,139,000. Institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Up 5.1 %

Shares of Uniti Group stock opened at $5.52 on Friday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 90.18 and a beta of 1.28. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71. The company has a 50-day simple moving average of $4.09 and a two-hundred day simple moving average of $4.44.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.28). The business had revenue of $294.90 million during the quarter, compared to analyst estimates of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, sell-side analysts anticipate that Uniti Group Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, SVP Ronald J. Mudry sold 28,693 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total value 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 can be accessed through the SEC website. Corporate insiders own 1.39% of the company’s stock.

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.