Uniti Group Inc. $UNIT Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. reduced its position in Uniti Group Inc. (NASDAQ:UNIT) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,103 shares of the real estate investment trust’s stock after selling 2,193 shares during the period. Freedom Investment Management Inc.’s holdings in Uniti Group were worth $95,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of UNIT. Nuveen LLC acquired a new position in shares of Uniti Group in the 1st quarter valued at about $6,158,000. Goldman Sachs Group Inc. lifted its stake in shares of Uniti Group by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after purchasing an additional 877,911 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Uniti Group by 65.4% in the 1st quarter. Public Sector Pension Investment Board now owns 1,005,669 shares of the real estate investment trust’s stock valued at $5,069,000 after purchasing an additional 397,499 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Uniti Group by 921.4% in the 1st quarter. Mackenzie Financial Corp now owns 306,812 shares of the real estate investment trust’s stock valued at $1,546,000 after purchasing an additional 276,774 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Uniti Group by 287.9% in the 1st quarter. Panagora Asset Management Inc. now owns 318,066 shares of the real estate investment trust’s stock valued at $1,603,000 after purchasing an additional 236,061 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Stock Up 3.7%

Shares of UNIT opened at $6.22 on Tuesday. The business’s 50 day moving average is $6.22 and its two-hundred day moving average is $5.33. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.62. The firm has a market cap of $920.46 million, a price-to-earnings ratio of 22.61 and a beta of 1.56.

Uniti Group (NASDAQ:UNIT) last announced its 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 during the quarter, compared to analyst estimates of $304.06 million. During the same period in the previous year, the company earned $0.34 earnings per share. The business’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. On average, equities analysts expect that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Uniti Group in a research report on Wednesday, October 8th. Wall Street Zen lowered Uniti Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company boosted their price target on Uniti Group from $4.50 to $7.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. assumed coverage on Uniti Group in a research report on Thursday, October 23rd. They set a “neutral” rating and a $7.00 price target on the stock. Finally, Barclays assumed coverage on Uniti Group in a research report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.63.

Uniti Group 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.