SG Americas Securities LLC reduced its position in Uniti Group Inc. (NASDAQ:UNIT – Free Report) by 91.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,399 shares of the real estate investment trust’s stock after selling 914,764 shares during the period. SG Americas Securities LLC’s holdings in Uniti Group were worth $754,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Contrarian Capital Management L.L.C. acquired a new position in shares of Uniti Group during the third quarter valued at about $2,783,000. Thematics Asset Management bought a new position in Uniti Group in the 3rd quarter valued at about $3,900,000. Vanguard Group Inc. boosted its stake in Uniti Group by 38.9% during the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after purchasing an additional 6,494,001 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in Uniti Group by 38.2% during the 4th quarter. Mizuho Markets Americas LLC now owns 398,246 shares of the real estate investment trust’s stock valued at $2,792,000 after purchasing an additional 110,000 shares during the last quarter. Finally, UBS Group AG increased its holdings in Uniti Group by 12.1% during the 4th quarter. UBS Group AG now owns 695,743 shares of the real estate investment trust’s stock worth $4,877,000 after purchasing an additional 75,356 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.
Uniti Group Stock Performance
NASDAQ UNIT opened at $11.13 on Tuesday. The company has a market capitalization of $2.70 billion, a PE ratio of 3.32 and a beta of 1.40. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.94. The company has a 50-day simple moving average of $11.41 and a 200 day simple moving average of $9.41.
Analyst Upgrades and Downgrades
Several analysts have recently commented on UNIT shares. Citigroup increased their price objective on Uniti Group from $9.00 to $11.75 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Williams Trading set a $12.00 price target on Uniti Group in a research report on Tuesday, May 12th. Weiss Ratings upgraded Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Wells Fargo & Company upped their target price on shares of Uniti Group from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada increased their target price on shares of Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.14.
Read Our Latest Analysis on Uniti Group
Uniti Group Company Profile
Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.
Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.
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