Inspire Advisors LLC Purchases New Shares in Uniti Group Inc. (NASDAQ:UNIT)

Inspire Advisors LLC acquired a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 52,012 shares of the real estate investment trust’s stock, valued at approximately $152,000.

Several other large investors have also recently added to or reduced their stakes in UNIT. Meeder Advisory Services Inc. acquired a new position in shares of Uniti Group in the second quarter valued at about $36,000. DekaBank Deutsche Girozentrale raised its stake in Uniti Group by 138.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 12,291 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Uniti Group by 56.8% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,067,079 shares of the real estate investment trust’s stock valued at $3,116,000 after purchasing an additional 386,618 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Uniti Group by 45.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 302,752 shares of the real estate investment trust’s stock valued at $884,000 after purchasing an additional 94,619 shares during the period. Finally, Choreo LLC acquired a new position in shares of Uniti Group during the 2nd quarter worth approximately $41,000. Institutional investors own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Uniti Group Stock Up 5.1 %

UNIT opened at $5.52 on Monday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 92.02 and a beta of 1.28. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71. The company has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $4.42.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.28). The firm had revenue of $294.90 million for 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%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. Sell-side analysts anticipate that Uniti Group Inc. will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling at Uniti Group

In other news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction on 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 owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.39% of the company’s stock.

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.