Everence Capital Management Inc. Buys 8,630 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Everence Capital Management Inc. raised its stake in Uniti Group Inc. (NASDAQ:UNIT) by 24.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,310 shares of the real estate investment trust’s stock after acquiring an additional 8,630 shares during the period. Everence Capital Management Inc.’s holdings in Uniti Group were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Uniti Group in the 2nd quarter valued at $28,000. Meeder Advisory Services Inc. purchased a new position in shares of Uniti Group in the 2nd quarter worth $36,000. Everhart Financial Group Inc. purchased a new position in shares of Uniti Group in the 2nd quarter worth $41,000. Choreo LLC purchased a new position in shares of Uniti Group in the 2nd quarter worth $41,000. Finally, GAMMA Investing LLC grew its stake in shares of Uniti Group by 49.8% in the 1st quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 2,960 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Uniti Group Trading Up 2.3 %

UNIT stock opened at $5.70 on Wednesday. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.71. The company has a 50-day moving average price of $5.09 and a 200 day moving average price of $4.30. The stock has a market cap of $1.37 billion, a PE ratio of 95.00 and a beta of 1.29.

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

Insider Buying and Selling

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.39% of the stock is owned by corporate insiders.

Uniti Group 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.