Thrivent Financial for Lutherans Boosts Stake in Uniti Group Inc. (NASDAQ:UNIT)

Thrivent Financial for Lutherans raised its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 189.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 576,413 shares of the real estate investment trust's stock after purchasing an additional 376,964 shares during the period. Thrivent Financial for Lutherans owned 0.24% of Uniti Group worth $3,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC lifted its holdings in shares of Uniti Group by 244.7% during the second quarter. AQR Capital Management LLC now owns 2,254,810 shares of the real estate investment trust's stock worth $6,584,000 after purchasing an additional 1,600,628 shares during the period. Davidson Kempner Capital Management LP grew its holdings in shares of Uniti Group by 17.7% during the second quarter. Davidson Kempner Capital Management LP now owns 5,480,000 shares of the real estate investment trust's stock valued at $16,002,000 after buying an additional 825,000 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of Uniti Group by 548.9% in the 3rd quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust's stock worth $4,467,000 after acquiring an additional 670,000 shares during the last quarter. Vanguard Group Inc. lifted its position in Uniti Group by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust's stock valued at $226,809,000 after acquiring an additional 542,485 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in Uniti Group by 352.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 653,203 shares of the real estate investment trust's stock valued at $1,907,000 after purchasing an additional 508,699 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Stock Down 0.7 %

UNIT stock traded down $0.04 during midday trading on Tuesday, hitting $5.99. The company's stock had a trading volume of 1,800,407 shares, compared to its average volume of 2,633,447. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 14.76 and a beta of 1.31. The stock's 50-day moving average price is $5.58 and its 200 day moving average price is $4.37.

Wall Street Analyst Weigh In

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

About Uniti Group

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.