DekaBank Deutsche Girozentrale Has $62,000 Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

DekaBank Deutsche Girozentrale raised its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 138.1% in the second quarter, Holdings Channel reports. The institutional investor owned 21,194 shares of the real estate investment trust’s stock after buying an additional 12,291 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Uniti Group were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of UNIT. Everhart Financial Group Inc. acquired a new position in Uniti Group during the 2nd quarter valued at $41,000. Choreo LLC bought a new position in shares of Uniti Group during the 2nd quarter worth about $41,000. GAMMA Investing LLC raised its position in shares of Uniti Group by 49.8% during the first quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 2,960 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Uniti Group in the first quarter valued at about $75,000. Finally, Optas LLC acquired a new stake in Uniti Group during the second quarter worth about $79,000. 87.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Uniti Group Stock Performance

Shares of UNIT stock opened at $5.22 on Friday. The firm has a fifty day moving average of $4.35 and a 200-day moving average of $4.40. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 87.00 and a beta of 1.28. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.71.

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

Insider Activity at Uniti Group

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total transaction of $113,050.42. Following the completion of the transaction, the senior vice president now directly owns 513,761 shares in the company, valued at $2,024,218.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.39% of the stock is owned by insiders.

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.