Inspire Investing LLC Decreases Position in Uniti Group Inc. (NASDAQ:UNIT)

Inspire Investing LLC cut its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 30.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,672 shares of the real estate investment trust’s stock after selling 63,168 shares during the period. Inspire Investing LLC owned 0.06% of Uniti Group worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. raised its position 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 valued at $3,399,000 after purchasing an additional 285,112 shares during the period. Jupiter Asset Management Ltd. raised its position in Uniti Group by 174.0% during the first quarter. Jupiter Asset Management Ltd. now owns 680,461 shares of the real estate investment trust’s stock valued at $4,015,000 after purchasing an additional 432,158 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Uniti Group by 7.2% during the first quarter. Daiwa Securities Group Inc. now owns 75,441 shares of the real estate investment trust’s stock valued at $445,000 after buying an additional 5,062 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Uniti Group by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 80,661 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 6,798 shares during the period. Finally, Mizuho Markets Americas LLC raised its holdings in shares of Uniti Group by 21.2% in the first 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 period. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $5.22 on Friday. The business’s 50 day moving average price is $4.35 and its 200-day moving average price is $4.41. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.71. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 87.00 and a beta of 1.28.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data 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). The firm had revenue of $294.90 million for the quarter, compared to analysts’ expectations of $289.97 million. Uniti Group had a negative return on equity of 0.37% and a net margin of 0.79%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. Sell-side analysts predict that Uniti Group Inc. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, SVP Ronald J. Mudry sold 28,693 shares of Uniti Group 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 directly owns 513,761 shares in the company, valued at approximately $2,024,218.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.39% of the company’s stock.

Uniti Group 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.