Uniti Group Inc. $UNIT Shares Sold by Arena Capital Advisors LLC CA

Arena Capital Advisors LLC CA reduced its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 12.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,022,703 shares of the real estate investment trust’s stock after selling 150,000 shares during the period. Uniti Group makes up 4.8% of Arena Capital Advisors LLC CA’s investment portfolio, making the stock its 8th largest holding. Arena Capital Advisors LLC CA’s holdings in Uniti Group were worth $9,593,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Uniti Group in the fourth quarter valued at about $40,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Uniti Group during the fourth quarter worth about $72,000. Osaic Holdings Inc. grew its holdings in shares of Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,795 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Uniti Group in the 1st quarter valued at about $100,000. Finally, Cibc World Markets Corp acquired a new position in Uniti Group in the 4th quarter valued at about $78,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Price Performance

UNIT opened at $11.01 on Wednesday. Uniti Group Inc. has a 12 month low of $5.30 and a 12 month high of $12.94. The stock has a market capitalization of $2.67 billion, a P/E ratio of 3.29 and a beta of 1.40. The business has a 50 day simple moving average of $11.33 and a 200-day simple moving average of $9.57.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $987.50 million for the quarter, compared to analyst estimates of $930.08 million. The company’s revenue was up 236.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. Research analysts anticipate that Uniti Group Inc. will post -1.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UNIT. Williams Trading set a $12.00 price objective on Uniti Group in a research report on Tuesday, May 12th. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Royal Bank Of Canada increased their price target on Uniti Group from $6.50 to $7.50 and gave the stock a “sector perform” rating in a report on Monday, April 13th. Weiss Ratings upgraded shares of Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Finally, Barclays boosted their price objective on shares of Uniti Group from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.14.

About Uniti Group

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.