Golden State Equity Partners Decreases Stock Position in Uniti Group Inc. (NASDAQ:UNIT)

Golden State Equity Partners cut its position in Uniti Group Inc. (NASDAQ:UNIT) by 79.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,455 shares of the real estate investment trust’s stock after selling 100,000 shares during the quarter. Golden State Equity Partners’ holdings in Uniti Group were worth $144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in UNIT. Mackenzie Financial Corp raised its stake in Uniti Group by 9.6% in the 2nd quarter. Mackenzie Financial Corp now owns 30,923 shares of the real estate investment trust’s stock valued at $90,000 after acquiring an additional 2,711 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Uniti Group by 14.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,387 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 2,852 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Uniti Group by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 208,133 shares of the real estate investment trust’s stock valued at $1,228,000 after buying an additional 2,938 shares in the last quarter. Hancock Whitney Corp boosted its holdings in Uniti Group by 4.5% in the 1st quarter. Hancock Whitney Corp now owns 76,360 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 3,254 shares during the period. Finally, ProShare Advisors LLC grew its stake in Uniti Group by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 48,051 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 3,339 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Down 9.3 %

UNIT stock opened at $5.07 on Friday. The firm has a 50 day moving average of $5.25 and a 200-day moving average of $4.30. The firm has a market capitalization of $1.24 billion, a P/E ratio of 253.50 and a beta of 1.29. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.71.

Uniti Group (NASDAQ:UNIT) last announced its quarterly 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 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 for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. Sell-side analysts predict that Uniti Group Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total transaction of $113,050.42. Following the completion of the transaction, the senior vice president now directly owns 513,761 shares in the company, valued at $2,024,218.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.39% of the stock is currently owned by company insiders.

Uniti Group Company Profile

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.