Verition Fund Management LLC bought a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 361,297 shares of the real estate investment trust's stock, valued at approximately $2,038,000. Verition Fund Management LLC owned approximately 0.15% of Uniti Group as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Uniti Group by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 153,677 shares of the real estate investment trust's stock valued at $907,000 after buying an additional 8,524 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Uniti Group in the 1st quarter valued at approximately $75,000. CWM LLC grew its holdings in shares of Uniti Group by 56.3% during the 2nd quarter. CWM LLC now owns 31,229 shares of the real estate investment trust's stock valued at $91,000 after purchasing an additional 11,255 shares during the last quarter. SG Americas Securities LLC increased its position in Uniti Group by 106.3% during the 2nd quarter. SG Americas Securities LLC now owns 47,519 shares of the real estate investment trust's stock worth $139,000 after purchasing an additional 24,481 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Uniti Group by 4.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 272,836 shares of the real estate investment trust's stock valued at $797,000 after purchasing an additional 10,523 shares during the last quarter. Institutional investors own 87.51% of the company's stock.
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.
Read Our Latest Research Report on UNIT
Uniti Group Stock Performance
Shares of NASDAQ:UNIT traded down $0.08 during midday trading on Friday, hitting $5.80. 1,290,839 shares of the stock were exchanged, compared to its average volume of 2,621,558. The business's 50-day moving average price is $5.67 and its 200 day moving average price is $4.49. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 14.15 and a beta of 1.35. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.71.
Uniti Group Profile
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Free Report)
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.
Further Reading
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