Davidson Kempner Capital Management LP Boosts Position in Uniti Group Inc. (NASDAQ:UNIT)

Davidson Kempner Capital Management LP raised its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 17.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,480,000 shares of the real estate investment trust's stock after buying an additional 825,000 shares during the quarter. Davidson Kempner Capital Management LP owned about 2.28% of Uniti Group worth $16,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Permanent School Fund Corp grew its stake in Uniti Group by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 208,133 shares of the real estate investment trust's stock valued at $1,228,000 after acquiring an additional 2,938 shares in the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 2,960 shares during the last quarter. Hancock Whitney Corp increased its holdings in shares of Uniti Group by 4.5% in the first quarter. Hancock Whitney Corp now owns 76,360 shares of the real estate investment trust's stock worth $451,000 after purchasing an additional 3,254 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Uniti Group by 7.5% in the first quarter. ProShare Advisors LLC now owns 48,051 shares of the real estate investment trust's stock worth $284,000 after buying an additional 3,339 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Uniti Group by 1.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 270,300 shares of the real estate investment trust's stock valued at $1,562,000 after buying an additional 4,200 shares during the last quarter. Institutional investors own 87.51% of the company's stock.

Insider Buying and Selling

In related news, SVP Ronald J. Mudry sold 28,693 shares of Uniti Group stock in a transaction dated Tuesday, August 6th. The shares were 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 of the company's stock, valued at approximately $2,024,218.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.39% of the stock is owned by corporate insiders.

Uniti Group Price Performance

Shares of Uniti Group stock traded up $0.15 during trading hours on Monday, reaching $5.37. The company's stock had a trading volume of 2,765,794 shares, compared to its average volume of 2,729,283. The firm has a 50 day moving average price of $4.39 and a 200-day moving average price of $4.38. The stock has a market cap of $1.29 billion, a P/E ratio of 89.50 and a beta of 1.28. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.71.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.28). The company had revenue of $294.90 million for the quarter, compared to the consensus estimate 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 was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. As a group, sell-side analysts forecast that Uniti Group Inc. will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $5.50 price objective on shares of Uniti Group in a research note on Thursday, August 29th.

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.