Range Financial Group LLC Invests $140,000 in Uniti Group Inc. (NASDAQ:UNIT)

Range Financial Group LLC acquired a new position in Uniti Group Inc. (NASDAQ:UNIT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 48,048 shares of the real estate investment trust’s stock, valued at approximately $140,000.

Several other institutional investors have also recently modified their holdings of UNIT. Victory Capital Management Inc. raised its stake in shares of Uniti Group by 22.4% in the fourth quarter. Victory Capital Management Inc. now owns 49,420 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 9,032 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Uniti Group by 5.4% during the fourth quarter. Apollon Wealth Management LLC now owns 102,948 shares of the real estate investment trust’s stock worth $595,000 after acquiring an additional 5,251 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Uniti Group by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,858,573 shares of the real estate investment trust’s stock worth $39,643,000 after acquiring an additional 414,810 shares during the period. QRG Capital Management Inc. grew its holdings in Uniti Group by 10.1% during the fourth quarter. QRG Capital Management Inc. now owns 134,591 shares of the real estate investment trust’s stock worth $778,000 after acquiring an additional 12,402 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Uniti Group by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,102 shares of the real estate investment trust’s stock worth $870,000 after acquiring an additional 7,395 shares during the period. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Up 12.3 %

Uniti Group stock opened at $5.28 on Friday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 88.00 and a beta of 1.29. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71. The business’s 50-day moving average price is $3.80 and its 200 day moving average price is $4.44.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data 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). Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. The business had revenue of $294.90 million during the quarter, compared to analyst estimates of $289.97 million. During the same period in the previous year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts expect that Uniti Group Inc. will post 1.39 EPS for the current year.

Insider Buying and Selling at Uniti Group

In other Uniti Group 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 directly owns 513,761 shares of the company’s stock, valued at $2,024,218.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.