Jupiter Asset Management Ltd. Acquires New Position in Uniti Group Inc. (NASDAQ:UNIT)

Jupiter Asset Management Ltd. purchased a new stake in shares of Uniti Group Inc. (NASDAQ:UNITFree Report) during the 3rd quarter, Holdings Channel reports. The fund purchased 222,369 shares of the real estate investment trust’s stock, valued at approximately $1,050,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Balyasny Asset Management L.P. grew its position in shares of Uniti Group by 919.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 3,049,586 shares of the real estate investment trust’s stock worth $10,826,000 after buying an additional 2,750,525 shares in the last quarter. Davidson Kempner Capital Management LP purchased a new stake in shares of Uniti Group during the 2nd quarter worth $11,433,000. Norges Bank purchased a new stake in Uniti Group in the fourth quarter valued at about $12,061,000. Franklin Resources Inc. boosted its holdings in Uniti Group by 66.7% in the first quarter. Franklin Resources Inc. now owns 4,089,405 shares of the real estate investment trust’s stock worth $14,517,000 after acquiring an additional 1,636,731 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Uniti Group by 625.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,883,190 shares of the real estate investment trust’s stock worth $8,700,000 after acquiring an additional 1,623,614 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

Separately, Bank of America downgraded Uniti Group from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $5.00 to $3.50 in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Uniti Group currently has a consensus rating of “Hold” and an average target price of $5.92.

Get Our Latest Stock Report on Uniti Group

Uniti Group Trading Down 0.2 %

Shares of UNIT stock opened at $4.85 on Monday. The stock has a 50 day moving average of $5.53 and a 200 day moving average of $5.20. Uniti Group Inc. has a twelve month low of $2.94 and a twelve month high of $6.17.

Uniti Group Profile

(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 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.

See Also

Want to see what other hedge funds are holding UNIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uniti Group Inc. (NASDAQ:UNITFree Report).

Institutional Ownership by Quarter for Uniti Group (NASDAQ:UNIT)

Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.