Northern Trust Corp Cuts Holdings in Uniti Group Inc. $UNIT

Northern Trust Corp decreased its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,667,281 shares of the real estate investment trust’s stock after selling 81,614 shares during the quarter. Northern Trust Corp owned approximately 1.09% of Uniti Group worth $13,443,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Uniti Group by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 32,531 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 11,395 shares during the period. Vanguard Group Inc. lifted its holdings in Uniti Group by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust’s stock worth $186,464,000 after buying an additional 151,070 shares during the last quarter. Nuveen LLC purchased a new stake in Uniti Group during the 1st quarter worth about $6,158,000. Teacher Retirement System of Texas lifted its holdings in Uniti Group by 309.5% during the 1st quarter. Teacher Retirement System of Texas now owns 218,813 shares of the real estate investment trust’s stock worth $1,103,000 after buying an additional 165,383 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Uniti Group by 457.8% during the 1st quarter. Russell Investments Group Ltd. now owns 127,265 shares of the real estate investment trust’s stock worth $641,000 after buying an additional 104,451 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Uniti Group Trading Up 3.4%

Uniti Group stock opened at $6.03 on Thursday. The stock has a market cap of $892.32 million, a PE ratio of 21.92 and a beta of 1.50. The stock has a 50-day moving average price of $5.62 and a 200 day moving average price of $5.05. Uniti Group Inc. has a 52 week low of $5.68 and a 52 week high of $12.62.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The company had revenue of $300.73 million for the quarter, compared to analysts’ expectations of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. Uniti Group has set its FY 2025 guidance at EPS. On average, equities analysts predict that Uniti Group Inc. will post 1.28 EPS for the current 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.