Park Avenue Securities LLC Invests $45,000 in Uniti Group Inc. $UNIT

Park Avenue Securities LLC purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,324 shares of the real estate investment trust’s stock, valued at approximately $45,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Uniti Group by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust’s stock worth $186,464,000 after purchasing an additional 151,070 shares during the period. LSV Asset Management lifted its holdings in shares of Uniti Group by 0.7% during the first quarter. LSV Asset Management now owns 6,689,243 shares of the real estate investment trust’s stock worth $33,714,000 after purchasing an additional 45,724 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Uniti Group by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after purchasing an additional 877,911 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of Uniti Group by 7.3% during the first quarter. Pinnacle Associates Ltd. now owns 1,726,917 shares of the real estate investment trust’s stock worth $8,704,000 after purchasing an additional 118,095 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Uniti Group by 7.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,573,597 shares of the real estate investment trust’s stock worth $7,931,000 after purchasing an additional 110,697 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Trading Down 4.3%

UNIT opened at $5.79 on Friday. Uniti Group Inc. has a 1-year low of $5.68 and a 1-year high of $12.62. The company has a market cap of $856.80 million, a P/E ratio of 21.04 and a beta of 1.56. The company has a fifty day moving average price of $6.41 and a two-hundred day moving average price of $5.21.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $300.73 million during the quarter, compared to the consensus estimate of $304.06 million. During the same period last year, the firm posted $0.34 earnings per share. 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. On average, research analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research lowered shares of Uniti Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 10th. Wells Fargo & Company boosted their target price on shares of Uniti Group from $4.50 to $7.50 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Uniti Group presently has an average rating of “Hold” and a consensus price target of $6.70.

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.