State of Alaska Department of Revenue Boosts Stock Position in Uniti Group Inc. $UNIT

State of Alaska Department of Revenue boosted its position in Uniti Group Inc. (NASDAQ:UNIT) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 260,845 shares of the real estate investment trust’s stock after purchasing an additional 8,917 shares during the quarter. State of Alaska Department of Revenue owned about 0.11% of Uniti Group worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV purchased a new stake in shares of Uniti Group during the first quarter worth about $28,000. Park Avenue Securities LLC acquired a new stake in Uniti Group during the second quarter worth approximately $45,000. American Century Companies Inc. purchased a new stake in Uniti Group in the 1st quarter worth approximately $65,000. Inspire Advisors LLC acquired a new position in Uniti Group in the 1st quarter valued at $66,000. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Uniti Group during the 1st quarter worth $67,000. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $5.84 on Monday. Uniti Group Inc. has a 1 year low of $5.66 and a 1 year high of $12.62. The stock’s 50-day simple moving average is $6.41 and its 200-day simple moving average is $5.22. The firm has a market cap of $864.20 million, a price-to-earnings ratio of 21.23 and a beta of 1.56.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results 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). 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 during the quarter, compared to analysts’ expectations of $304.06 million. During the same period in the prior year, the company posted $0.34 EPS. The company’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. As a group, research analysts predict that Uniti Group Inc. will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UNIT. Zacks Research downgraded Uniti Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 10th. Wall Street Zen lowered Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Uniti Group in a report on Saturday, September 27th. Barclays started coverage on shares of Uniti Group in a report on Friday. They set an “equal weight” rating and a $6.00 price objective on the stock. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.56.

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.