Wilmington Savings Fund Society FSB Invests $986,000 in Uniti Group Inc. (NASDAQ:UNIT)

Wilmington Savings Fund Society FSB purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 174,854 shares of the real estate investment trust's stock, valued at approximately $986,000. Wilmington Savings Fund Society FSB owned about 0.07% of Uniti Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC raised its stake in Uniti Group by 244.7% during the second quarter. AQR Capital Management LLC now owns 2,254,810 shares of the real estate investment trust's stock valued at $6,584,000 after buying an additional 1,600,628 shares during the last quarter. King Street Capital Management L.P. purchased a new position in shares of Uniti Group in the third quarter valued at about $8,798,000. Paloma Partners Management Co purchased a new position in shares of Uniti Group in the third quarter valued at about $6,218,000. Bank of Montreal Can lifted its position in shares of Uniti Group by 136.2% in the third quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust's stock worth $9,104,000 after buying an additional 898,852 shares in the last quarter. Finally, Davidson Kempner Capital Management LP lifted its position in shares of Uniti Group by 17.7% in the second quarter. Davidson Kempner Capital Management LP now owns 5,480,000 shares of the real estate investment trust's stock worth $16,002,000 after buying an additional 825,000 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Uniti Group Trading Down 0.8 %

UNIT traded down $0.05 during midday trading on Friday, hitting $6.07. 1,697,630 shares of the company were exchanged, compared to its average volume of 2,613,028. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 14.81 and a beta of 1.35. The company's 50 day simple moving average is $5.71 and its 200 day simple moving average is $4.60.

About Uniti Group

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.