Pacer Advisors Inc. Sells 259,108 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Pacer Advisors Inc. decreased its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 14.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,483,304 shares of the real estate investment trust's stock after selling 259,108 shares during the quarter. Pacer Advisors Inc. owned approximately 0.61% of Uniti Group worth $8,366,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Uniti Group during the second quarter valued at $28,000. Meeder Advisory Services Inc. bought a new position in shares of Uniti Group in the second quarter worth approximately $36,000. Everhart Financial Group Inc. purchased a new position in Uniti Group in the 2nd quarter worth approximately $41,000. Choreo LLC bought a new position in shares of Uniti Group in the 2nd quarter worth $41,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Uniti Group by 138.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 12,291 shares during the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated a "sector perform" rating and issued a $5.50 price objective on shares of Uniti Group in a report on Thursday, August 29th.

Uniti Group Trading Up 3.6 %

Shares of NASDAQ:UNIT traded up $0.21 on Friday, reaching $6.11. 2,776,032 shares of the company traded hands, compared to its average volume of 2,331,533. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71. The business's 50-day simple moving average is $5.57 and its 200 day simple moving average is $4.35. The stock has a market capitalization of $1.49 billion, a P/E ratio of 14.90 and a beta of 1.31.

Uniti Group Company Profile

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.