Uniti Group Inc. (NASDAQ:UNIT) Short Interest Update

Uniti Group Inc. (NASDAQ:UNIT) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 6,350,000 shares, adecreaseof35.1% from the July 15th total of 9,780,000 shares. Based on an average daily volume of 1,530,000 shares, the short-interest ratio is currently 4.2 days. Currently,4.5% of the company’s stock are short sold. Currently,4.5% of the company’s stock are short sold. Based on an average daily volume of 1,530,000 shares, the short-interest ratio is currently 4.2 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UNIT. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company lifted their price objective on shares of Uniti Group from $4.50 to $7.50 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Finally, Citigroup reiterated a “neutral” rating and set a $5.30 price objective on shares of Uniti Group in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.70.

Hedge Funds Weigh In On Uniti Group

Large investors have recently added to or reduced their stakes in the company. KBC Group NV bought a new position in Uniti Group during the first quarter worth $28,000. Allworth Financial LP boosted its position in Uniti Group by 775.7% during the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 6,919 shares during the period. Park Avenue Securities LLC acquired a new position in Uniti Group during the 2nd quarter valued at approximately $45,000. American Century Companies Inc. acquired a new position in Uniti Group during the 1st quarter valued at approximately $65,000. Finally, Inspire Advisors LLC acquired a new position in Uniti Group during the 1st quarter valued at approximately $66,000. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Stock Performance

UNIT opened at $6.25 on Wednesday. The company has a 50-day moving average of $5.15 and a 200-day moving average of $4.98. The company has a market capitalization of $924.88 million, a P/E ratio of 22.72 and a beta of 1.47. Uniti Group has a 1-year low of $6.14 and a 1-year high of $12.62.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). The company had revenue of $300.73 million during the quarter, compared to the consensus estimate of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.Uniti Group’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. Uniti Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Uniti Group will post 1.28 earnings per share for the current fiscal year.

Uniti Group Company Profile

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.