Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by State Street Corp

State Street Corp lowered its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,500,911 shares of the real estate investment trust’s stock after selling 16,234 shares during the quarter. State Street Corp owned 3.89% of Uniti Group worth $53,585,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Uniti Group in the second quarter valued at about $28,000. Meeder Advisory Services Inc. purchased a new stake in shares of Uniti Group in the second quarter valued at approximately $36,000. Choreo LLC purchased a new stake in shares of Uniti Group in the second quarter valued at approximately $41,000. Everhart Financial Group Inc. acquired a new position in Uniti Group during the second quarter worth $41,000. Finally, DekaBank Deutsche Girozentrale raised its position in Uniti Group by 138.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 12,291 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Price Performance

NASDAQ UNIT opened at $5.51 on Thursday. The business has a 50 day moving average price of $5.73 and a 200 day moving average price of $4.64. The company has a market capitalization of $1.35 billion, a P/E ratio of 13.44 and a beta of 1.35. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $5.50 price target on shares of Uniti Group in a report on Thursday, August 29th.

Uniti Group 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.