UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Uniti Group Inc. (NASDAQ:UNIT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 129.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 588,723 shares of the real estate investment trust's stock after acquiring an additional 332,115 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.24% of Uniti Group worth $3,320,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in UNIT. Charles Schwab Investment Management Inc. boosted its position in shares of Uniti Group by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust's stock worth $44,413,000 after acquiring an additional 452,411 shares during the last quarter. Davidson Kempner Capital Management LP lifted its stake in Uniti Group by 17.7% in the 2nd 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 purchasing an additional 825,000 shares in 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 valued at $6,584,000 after purchasing an additional 1,600,628 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Uniti Group by 4.2% during the second 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 purchasing an additional 74,832 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Uniti Group by 14.4% in the second quarter. Pacer Advisors Inc. now owns 1,742,412 shares of the real estate investment trust's stock worth $5,088,000 after purchasing an additional 219,245 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Uniti Group Stock Performance

UNIT stock traded down $0.05 during trading on Friday, hitting $6.07. 1,697,630 shares of the company's stock traded hands, compared to its average volume of 2,613,028. The business has a fifty day simple moving average of $5.71 and a 200 day simple moving average of $4.59. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 14.81 and a beta of 1.35.

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.