Paloma Partners Management Co Invests $6.22 Million in Uniti Group Inc. (NASDAQ:UNIT)

Paloma Partners Management Co bought a new stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,102,521 shares of the real estate investment trust's stock, valued at approximately $6,218,000. Paloma Partners Management Co owned about 0.45% of Uniti Group as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in UNIT. Charles Schwab Investment Management Inc. increased its holdings in shares of Uniti Group by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust's stock valued at $44,413,000 after acquiring an additional 452,411 shares during the last quarter. Davidson Kempner Capital Management LP lifted its stake 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 during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Uniti Group by 244.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,254,810 shares of the real estate investment trust's stock worth $6,584,000 after buying an additional 1,600,628 shares during the period. Bank of New York Mellon Corp grew its stake in Uniti Group by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,869,032 shares of the real estate investment trust's stock valued at $5,458,000 after buying an additional 74,832 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Uniti Group by 14.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,742,412 shares of the real estate investment trust's stock worth $5,088,000 after acquiring an additional 219,245 shares during the period. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Stock Performance

Shares of UNIT traded up $0.05 during mid-day trading on Monday, hitting $5.96. The company's stock had a trading volume of 709,229 shares, compared to its average volume of 2,613,888. The stock's 50-day moving average is $5.63 and its two-hundred day moving average is $4.42. The firm has a market capitalization of $1.45 billion, a PE ratio of 14.41 and a beta of 1.31. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.71.

Analyst Upgrades and Downgrades

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

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.