PNC Financial Services Group Inc. Sells 2,325 Shares of Uniti Group Inc. $UNIT

PNC Financial Services Group Inc. reduced its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,051 shares of the real estate investment trust’s stock after selling 2,325 shares during the period. PNC Financial Services Group Inc.’s holdings in Uniti Group were worth $71,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of UNIT. KBC Group NV purchased a new stake in Uniti Group in the 1st quarter worth approximately $28,000. Inspire Advisors LLC bought a new position in shares of Uniti Group during the first quarter valued at approximately $66,000. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Uniti Group in the first quarter worth $67,000. Corton Capital Inc. purchased a new stake in Uniti Group in the first quarter worth $86,000. Finally, GAMMA Investing LLC boosted its holdings in Uniti Group by 486.7% in the first quarter. GAMMA Investing LLC now owns 18,522 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 15,365 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Price Performance

NASDAQ:UNIT opened at $6.10 on Thursday. The firm’s 50-day moving average price is $5.19 and its 200-day moving average price is $4.99. The company has a market capitalization of $902.68 million, a PE ratio of 22.17 and a beta of 1.47. Uniti Group Inc. has a 1-year low of $6.07 and a 1-year high of $12.62.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. The business had revenue of $300.73 million for the quarter, compared to analysts’ expectations of $304.06 million. During the same period last year, the business earned $0.34 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. Uniti Group has set its FY 2025 guidance at EPS. Equities analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Uniti Group from $4.50 to $7.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Citigroup restated a “neutral” rating and issued a $5.30 price objective on shares of Uniti Group in a report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Uniti Group has an average rating of “Moderate Buy” and an average target price of $6.70.

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.