Point72 Asset Management L.P. Acquires Shares of 104,041 Uniti Group Inc. (NASDAQ:UNIT)

Point72 Asset Management L.P. bought a new position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 104,041 shares of the real estate investment trust's stock, valued at approximately $304,000.

Other institutional investors have also made changes to their positions in the company. Nomura Holdings Inc. lifted its holdings in shares of 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 worth $3,399,000 after buying an additional 285,112 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Uniti Group by 174.0% in the 1st 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 last quarter. Inspire Investing LLC raised its holdings in shares of Uniti Group by 219.9% during the 1st quarter. Inspire Investing LLC now owns 210,840 shares of the real estate investment trust's stock worth $1,244,000 after buying an additional 144,933 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Uniti Group by 7.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 75,441 shares of the real estate investment trust's stock worth $445,000 after buying an additional 5,062 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in 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 valued at $476,000 after buying an additional 6,798 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Uniti Group Stock Performance

Shares of UNIT traded up $0.06 during trading hours on Friday, reaching $5.58. The stock had a trading volume of 1,203,208 shares, compared to its average volume of 2,718,022. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.71. The stock has a market capitalization of $1.34 billion, a PE ratio of 93.00 and a beta of 1.29. The company's 50-day moving average is $4.72 and its two-hundred day moving average is $4.33.

Uniti Group (NASDAQ:UNIT - Get Free Report) 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 the consensus estimate of $0.35 by ($0.28). Uniti Group had a negative return on equity of 0.37% and a net margin of 0.79%. The firm had revenue of $294.90 million for the quarter, compared to the consensus estimate of $289.97 million. During the same quarter last year, the firm posted $0.34 earnings per share. The business's revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts anticipate that Uniti Group Inc. will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $113,050.42. Following the completion of the sale, the senior vice president now directly owns 513,761 shares in the company, valued at $2,024,218.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.39% of the company's stock.

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.