Uniti Group Inc. (NASDAQ:UNIT) Stock Holdings Reduced by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,476 shares of the real estate investment trust’s stock after selling 2,965 shares during the period. Daiwa Securities Group Inc.’s holdings in Uniti Group were worth $212,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in UNIT. Victory Capital Management Inc. raised its position in Uniti Group by 22.4% during the fourth quarter. Victory Capital Management Inc. now owns 49,420 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 9,032 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Uniti Group by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,102 shares of the real estate investment trust’s stock valued at $870,000 after purchasing an additional 7,395 shares in the last quarter. Norges Bank acquired a new stake in shares of Uniti Group in the 4th quarter valued at $9,139,000. Aigen Investment Management LP bought a new stake in Uniti Group in the fourth quarter worth $586,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Uniti Group by 1.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 270,300 shares of the real estate investment trust’s stock worth $1,562,000 after buying an additional 4,200 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Ronald J. Mudry sold 28,693 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total value of $113,050.42. Following the completion of the sale, the senior vice president now directly owns 513,761 shares of the company’s stock, valued at $2,024,218.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a research note on Thursday, August 29th.

Uniti Group Trading Down 2.1 %

NASDAQ UNIT opened at $5.24 on Wednesday. The company has a market cap of $1.26 billion, a P/E ratio of 87.33 and a beta of 1.28. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The company has a fifty day simple moving average of $4.23 and a 200 day simple moving average of $4.41.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.28). The firm had revenue of $294.90 million for the quarter, compared to the consensus estimate of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Equities research analysts forecast that Uniti Group Inc. will post 1.31 EPS for the current fiscal year.

About Uniti Group

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.