Redwood Investment Management LLC acquired a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 112,354 shares of the real estate investment trust's stock, valued at approximately $656,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Uniti Group during the 2nd quarter valued at about $28,000. Meeder Advisory Services Inc. purchased a new position in shares of Uniti Group during the second quarter valued at approximately $36,000. Everhart Financial Group Inc. bought a new position in shares of Uniti Group during the second quarter valued at approximately $41,000. Choreo LLC purchased a new stake in Uniti Group in the second quarter worth $41,000. Finally, DekaBank Deutsche Girozentrale lifted its stake 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 worth $62,000 after acquiring an additional 12,291 shares during the period. Institutional investors own 87.51% of the company's stock.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada restated a "sector perform" rating and issued a $5.50 price objective on shares of Uniti Group in a report on Thursday, August 29th.
Get Our Latest Stock Report on UNIT
Uniti Group Stock Down 1.4 %
Shares of NASDAQ:UNIT traded down $0.08 during trading on Friday, hitting $5.80. The stock had a trading volume of 1,290,839 shares, compared to its average volume of 2,105,401. The company has a market capitalization of $1.42 billion, a PE ratio of 14.15 and a beta of 1.35. The firm's fifty day moving average is $5.67 and its 200 day moving average is $4.49. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.71.
About Uniti Group
(
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.
Featured Articles
Before you consider Uniti Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Uniti Group wasn't on the list.
While Uniti Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
