Allspring Global Investments Holdings LLC Sells 1,797 Shares of Uniti Group Inc. $UNIT

Allspring Global Investments Holdings LLC lowered its position in Uniti Group Inc. (NASDAQ:UNIT) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,734 shares of the real estate investment trust’s stock after selling 1,797 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Uniti Group were worth $135,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in UNIT. Diversified Trust Co increased its position in shares of Uniti Group by 426.9% in the 1st quarter. Diversified Trust Co now owns 71,372 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 57,827 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Uniti Group by 6.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 280,123 shares of the real estate investment trust’s stock valued at $1,412,000 after buying an additional 16,634 shares in the last quarter. KBC Group NV bought a new stake in shares of Uniti Group in the 1st quarter valued at $28,000. Teacher Retirement System of Texas increased its position in shares of Uniti Group by 309.5% in the 1st quarter. Teacher Retirement System of Texas now owns 218,813 shares of the real estate investment trust’s stock valued at $1,103,000 after buying an additional 165,383 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Uniti Group by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,392,105 shares of the real estate investment trust’s stock valued at $7,016,000 after buying an additional 47,793 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UNIT. JPMorgan Chase & Co. began coverage on Uniti Group in a report on Thursday. They set a “neutral” rating and a $7.00 target price for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Uniti Group in a report on Friday. Barclays began coverage on Uniti Group in a report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 target price for the company. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Wells Fargo & Company increased their target price on Uniti Group from $4.50 to $7.50 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Uniti Group has an average rating of “Hold” and an average target price of $6.63.

Uniti Group Stock Performance

Shares of NASDAQ:UNIT opened at $6.00 on Monday. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.62. The company has a market capitalization of $887.88 million, a P/E ratio of 21.81 and a beta of 1.56. The company has a 50-day simple moving average of $6.22 and a 200 day simple moving average of $5.32.

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