Burney Co. increased its position in Uniti Group Inc. (NASDAQ:UNIT – Free Report) by 73.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,974 shares of the real estate investment trust’s stock after purchasing an additional 8,427 shares during the period. Burney Co.’s holdings in Uniti Group were worth $94,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Uniti Group by 4,568.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 266,100 shares of the real estate investment trust’s stock worth $1,256,000 after purchasing an additional 260,400 shares in the last quarter. Davidson Kempner Capital Management LP bought a new position in shares of Uniti Group in the 2nd quarter worth $11,433,000. Asset Management One Co. Ltd. lifted its holdings in shares of Uniti Group by 42,622.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 369,125 shares of the real estate investment trust’s stock worth $1,742,000 after purchasing an additional 368,261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Uniti Group by 10.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,085,187 shares of the real estate investment trust’s stock worth $9,842,000 after purchasing an additional 201,997 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Uniti Group during the 3rd quarter valued at $1,235,000. 89.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Bank of America cut Uniti Group from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $5.00 to $3.50 in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.92.
Uniti Group Trading Down 0.2 %
Shares of NASDAQ:UNIT opened at $4.85 on Friday. The stock’s fifty day simple moving average is $5.53 and its two-hundred day simple moving average is $5.20. Uniti Group Inc. has a 1-year low of $2.94 and a 1-year high of $6.17. The stock has a market cap of $1.16 billion, a PE ratio of -26.94 and a beta of 1.33.
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 September 30, 2023, Uniti owns approximately 139,000 fiber route miles, 8.4 million fiber strand miles, and other communications real estate throughout the United States.
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