Mercer Global Advisors Inc. ADV Decreases Position in Uniti Group Inc. (NASDAQ:UNIT)

Mercer Global Advisors Inc. ADV lessened its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 84.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,715 shares of the real estate investment trust’s stock after selling 90,636 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Uniti Group were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp raised its position in Uniti Group by 1.4% in the 1st 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 purchasing an additional 2,938 shares during the last quarter. GAMMA Investing LLC raised 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 valued at $53,000 after buying an additional 2,960 shares during the last quarter. Hancock Whitney Corp boosted its stake in shares of Uniti Group by 4.5% during the first quarter. Hancock Whitney Corp now owns 76,360 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 3,254 shares during the period. ProShare Advisors LLC grew its holdings in shares of Uniti Group by 7.5% during 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 during the last quarter. Finally, Van ECK Associates Corp increased its position in Uniti Group by 9.3% in the 2nd quarter. Van ECK Associates Corp now owns 50,294 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 4,271 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Performance

Shares of Uniti Group stock opened at $5.52 on Wednesday. The firm has a market cap of $1.33 billion, a PE ratio of 92.00 and a beta of 1.28. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The firm’s 50-day simple moving average is $4.56 and its 200-day simple moving average is $4.35.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $289.97 million. During the same period in the prior year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that Uniti Group Inc. will post 1.31 earnings per share for the current year.

Insider Activity at Uniti Group

In other news, SVP Ronald J. Mudry sold 28,693 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $5.50 price objective on shares of Uniti Group in a report 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.