Louisiana State Employees Retirement System Cuts Position in Uniti Group Inc. (NASDAQ:UNIT)

Louisiana State Employees Retirement System decreased its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 118,000 shares of the real estate investment trust’s stock after selling 2,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Uniti Group were worth $666,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of UNIT. Allspring Global Investments Holdings LLC raised its holdings in Uniti Group by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 80,661 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 6,798 shares during the period. BNP Paribas Financial Markets raised its holdings in Uniti Group by 18.7% in the first quarter. BNP Paribas Financial Markets now owns 126,095 shares of the real estate investment trust’s stock valued at $744,000 after buying an additional 19,830 shares during the period. Daiwa Securities Group Inc. raised its holdings in Uniti Group by 7.2% in the first quarter. Daiwa Securities Group Inc. now owns 75,441 shares of the real estate investment trust’s stock valued at $445,000 after buying an additional 5,062 shares during the period. Texas Permanent School Fund Corp raised its holdings in Uniti Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 208,133 shares of the real estate investment trust’s stock valued at $1,228,000 after buying an additional 2,938 shares during the period. Finally, LSV Asset Management raised its holdings in Uniti Group by 1.3% in the first quarter. LSV Asset Management now owns 7,276,879 shares of the real estate investment trust’s stock valued at $42,934,000 after buying an additional 91,408 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Up 6.4 %

UNIT stock opened at $5.62 on Tuesday. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71. The company has a market capitalization of $1.37 billion, a P/E ratio of 13.71 and a beta of 1.31. The firm has a 50 day simple moving average of $5.31 and a 200-day simple moving average of $4.29.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $5.50 price objective on shares of Uniti Group in a research note 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.