Nuveen LLC Makes New Investment in Uniti Group Inc. $UNIT

Nuveen LLC acquired a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,221,740 shares of the real estate investment trust’s stock, valued at approximately $6,158,000. Nuveen LLC owned about 0.50% of Uniti Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of UNIT. Connor Clark & Lunn Investment Management Ltd. bought a new position in Uniti Group in the first quarter worth about $795,000. Caisse Des Depots ET Consignations grew its holdings in shares of Uniti Group by 21.9% during the first quarter. Caisse Des Depots ET Consignations now owns 117,192 shares of the real estate investment trust’s stock valued at $591,000 after buying an additional 21,082 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Uniti Group by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust’s stock valued at $186,464,000 after buying an additional 151,070 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Uniti Group during the first quarter valued at approximately $87,000. Finally, LSV Asset Management lifted its position in Uniti Group by 0.7% during the first quarter. LSV Asset Management now owns 6,689,243 shares of the real estate investment trust’s stock valued at $33,714,000 after purchasing an additional 45,724 shares during the period. 87.51% of the stock is owned by institutional investors.

Uniti Group Stock Performance

Shares of UNIT opened at $6.28 on Tuesday. The company has a 50 day moving average price of $5.32 and a 200-day moving average price of $5.00. Uniti Group Inc. has a fifty-two week low of $5.89 and a fifty-two week high of $12.62. The stock has a market capitalization of $929.31 million, a PE ratio of 22.82 and a beta of 1.47.

Uniti Group (NASDAQ:UNIT) last announced its quarterly 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). Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The business had revenue of $300.73 million during the quarter, compared to analysts’ expectations of $304.06 million. During the same period in the previous year, the company posted $0.34 EPS. Uniti Group’s revenue for the quarter was up 2.0% on a year-over-year basis. Uniti Group has set its FY 2025 guidance at EPS. Equities research analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Uniti Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Citigroup restated a “neutral” rating and set a $5.30 price objective on shares of Uniti Group in a research report on Friday, May 16th. Finally, Wells Fargo & Company raised 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 report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Uniti Group has an average rating of “Moderate Buy” and a consensus price target of $6.70.

About Uniti Group

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.