Truist Financial Corp grew its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT – Free Report) by 46.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,982 shares of the real estate investment trust’s stock after acquiring an additional 41,839 shares during the period. Truist Financial Corp owned about 0.05% of Uniti Group worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Uniti Group by 49.8% during the 1st quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 2,960 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Uniti Group in the 2nd quarter worth $28,000. Meeder Advisory Services Inc. bought a new position in Uniti Group in the 2nd quarter worth $36,000. B. Riley Wealth Advisors Inc. bought a new position in Uniti Group in the 1st quarter worth $75,000. Finally, Everhart Financial Group Inc. bought a new position in Uniti Group in the 2nd quarter worth $41,000. Institutional investors own 87.51% of the company’s stock.
Uniti Group Stock Performance
Shares of Uniti Group stock opened at $5.72 on Friday. The company has a market capitalization of $1.37 billion, a P/E ratio of 95.33 and a beta of 1.29. The company has a fifty day moving average of $5.00 and a 200 day moving average of $4.32. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.71.
Analyst Ratings Changes
Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $5.50 target price on shares of Uniti Group in a report on Thursday, August 29th.
Get Our Latest Stock Analysis on Uniti Group
Insiders Place Their Bets
In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total value of $113,050.42. Following the sale, the senior vice president now owns 513,761 shares in the company, valued at $2,024,218.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.39% of the company’s stock.
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.
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