JPMorgan Chase & Co. reduced its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 31.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,258,207 shares of the real estate investment trust's stock after selling 566,592 shares during the quarter. JPMorgan Chase & Co. owned 0.52% of Uniti Group worth $7,096,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Uniti Group in the second quarter valued at about $28,000. Meeder Advisory Services Inc. bought a new position in shares of Uniti Group during the second quarter worth about $36,000. Choreo LLC acquired a new position in Uniti Group in the second quarter worth about $41,000. DekaBank Deutsche Girozentrale increased its holdings in Uniti Group by 138.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 12,291 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Uniti Group during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 87.51% of the company's stock.
Uniti Group Stock Performance
Shares of NASDAQ UNIT traded up $0.20 during midday trading on Wednesday, hitting $5.68. The company's stock had a trading volume of 2,756,530 shares, compared to its average volume of 1,735,670. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71. The firm's fifty day moving average price is $5.71 and its 200-day moving average price is $5.00. The firm has a market cap of $1.39 billion, a P/E ratio of 13.85 and a beta of 1.35.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada lifted their target price on Uniti Group from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, December 23rd.
Get Our Latest Research Report on UNIT
Uniti Group Profile
(
Free Report)
Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.
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