Jackson Thornton Wealth Management LLC Cuts Position in Uniti Group Inc. $UNIT

Jackson Thornton Wealth Management LLC lessened its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,727 shares of the real estate investment trust’s stock after selling 2,702 shares during the period. Jackson Thornton Wealth Management LLC’s holdings in Uniti Group were worth $365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. KBC Group NV purchased a new position in shares of Uniti Group in the 1st quarter worth approximately $28,000. State of Wyoming raised its holdings in shares of Uniti Group by 14.1% in the 1st quarter. State of Wyoming now owns 51,084 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 6,317 shares during the period. CWM LLC raised its holdings in shares of Uniti Group by 17.4% in the 2nd quarter. CWM LLC now owns 42,930 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 6,359 shares during the period. Inspire Investing LLC raised its holdings in shares of Uniti Group by 9.6% in the 1st quarter. Inspire Investing LLC now owns 80,743 shares of the real estate investment trust’s stock worth $407,000 after purchasing an additional 7,092 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Uniti Group by 3.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 260,845 shares of the real estate investment trust’s stock worth $1,125,000 after purchasing an additional 8,917 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Analyst Ratings Changes

UNIT has been the topic of a number of research reports. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Barclays initiated coverage on shares of Uniti Group in a report on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Uniti Group from $4.50 to $7.50 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Uniti Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.56.

Uniti Group Stock Performance

Uniti Group stock opened at $5.60 on Tuesday. The stock has a market cap of $828.69 million, a P/E ratio of 20.35 and a beta of 1.56. Uniti Group Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $12.62. The firm’s fifty day moving average price is $6.28 and its 200-day moving average price is $5.28.

Uniti Group (NASDAQ:UNIT) last released 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). The firm had revenue of $300.73 million during the quarter, compared to the consensus estimate of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. Uniti Group has set its FY 2025 guidance at EPS. Sell-side analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Uniti Group 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.