Uniti Group Inc. (NASDAQ: UNIT) stock fell -4.21% on Friday to $5.23 against a previous-day closing price of $5.46. With 9.94 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.53 million shares. During the session, the REIT – Specialty company that operates in wider Real Estate sector, reached to the highest price of $5.59 whereas the lowest price it dropped to was $5.18. The 52-week range on UNIT shows that it touched its highest point at $8.94 and its lowest point at $2.94 during that stretch. It currently has a 1-year price target of $5.60. With its current market cap of 1.30 billion, UNIT has annualized dividend of $0.60 while the current yield stands at 11.47%. Beta for the stock currently stands at 1.39.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of UNIT was up-trending over the past week, with a rise of 9.64%, but this was down by -0.57% over a month. Three-month performance surged to 16.74% while six-month performance rose 39.47%. The stock lost -40.97% in the past year, while it has lost -5.42% so far this year. A look at the trailing 12-month EPS for UNIT yields -0.46 with Next year EPS estimates of 0.41. For the next quarter, that number is 0.11. This implies an EPS growth rate of -108.60% for this year and 50.36% for next year. EPS is expected to grow by 17.40% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 27.40%.
Float and Shares Shorts:
At present, 236.43 million UNIT shares are outstanding with a float of 231.59 million shares on hand for trading. On Aug 30, 2023, short shares totaled 18.94 million, which was 7.94% higher than short shares on Jul 30, 2023. In addition to Mr. Kenneth A. Gunderman as the firm’s Pres, CEO & Director, Mr. Paul Bullington serves as its Sr. VP, CFO & Treasurer.
Through their ownership of 90.57% of UNIT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.16% of UNIT, in contrast to 44.79% held by mutual funds. Shares owned by individuals account for 1.37%. As the largest shareholder in UNIT with 15.73% of the stake, The Vanguard Group, Inc. holds 37,547,906 shares worth 37,547,906. A second-largest stockholder of UNIT, BlackRock Fund Advisors, holds 35,489,549 shares, controlling over 14.87% of the firm’s shares. State Street Global Advisors, Aus is the third largest shareholder in UNIT, holding 14,181,104 shares or 5.94% stake. With a 7.07% stake in UNIT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 16,867,908 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 4.18% of UNIT stock, is the second-largest Mutual Fund holder. It holds 9,983,428 shares valued at 53.61 million. Vanguard Total Stock Market ETF holds 3.05% of the stake in UNIT, owning 7,282,174 shares worth 39.11 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, UNIT reported revenue of $283.98M and operating income of $149.67M. The EBITDA in the recently reported quarter was $229.90M and diluted EPS was $0.21.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for UNIT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With UNIT analysts setting a high price target of $10.00 and a low target of $3.00, the average target price over the next 12 months is $6.25. Based on these targets, UNIT could surge 91.2% to reach the target high and fall by -42.64% to reach the target low. Reaching the average price target will result in a growth of 19.5% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded UNIT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 868,224 while 109,391 shares were sold.