Uniti Group Inc. (NASDAQ:UNIT) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 6.2% in the second quarter, Holdings Channel.com reports. The fund owned 124,636 shares of the real estate investment trust’s stock after buying an additional 7,302 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Uniti Group were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in shares of Uniti Group by 244.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,254,810 shares of the real estate investment trust’s stock worth $6,584,000 after purchasing an additional 1,600,628 shares during the period. Caxton Associates LP grew its position in shares of Uniti Group by 84.6% in the second quarter. Caxton Associates LP now owns 434,293 shares of the real estate investment trust’s stock valued at $1,268,000 after purchasing an additional 199,049 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Uniti Group during the 2nd quarter valued at about $28,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Uniti Group in the second quarter worth approximately $1,458,000. Finally, Davidson Kempner Capital Management LP grew its holdings in Uniti Group by 17.7% in the second quarter. Davidson Kempner Capital Management LP now owns 5,480,000 shares of the real estate investment trust’s stock valued at $16,002,000 after purchasing an additional 825,000 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Uniti Group

In related news, SVP Ronald J. Mudry sold 28,693 shares of the firm’s 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 sale, the senior vice president now owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.39% of the company’s stock.

Uniti Group Stock Down 0.7 %

Shares of NASDAQ UNIT opened at $5.72 on Friday. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.71. The business has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $4.32. The firm has a market cap of $1.37 billion, a PE ratio of 95.33 and a beta of 1.29.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.28). The firm had revenue of $294.90 million during the quarter, compared to analyst estimates of $289.97 million. Uniti Group had a negative return on equity of 0.37% and a net margin of 0.79%. Uniti Group’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, analysts anticipate that Uniti Group Inc. will post 1.31 earnings per share for the current 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.