Crossmark Global Holdings Inc. Cuts Stake in Uniti Group Inc. (NASDAQ:UNIT)

Crossmark Global Holdings Inc. decreased its position in Uniti Group Inc. (NASDAQ:UNIT) by 28.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,002 shares of the real estate investment trust’s stock after selling 14,160 shares during the period. Crossmark Global Holdings Inc.’s holdings in Uniti Group were worth $197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in UNIT. ProShare Advisors LLC raised its stake in shares of Uniti Group by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 48,051 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 3,339 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Uniti Group by 9.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 276,934 shares of the real estate investment trust’s stock worth $1,639,000 after purchasing an additional 24,211 shares during the period. Vanguard Group Inc. increased its holdings in shares of Uniti Group by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock valued at $226,809,000 after purchasing an additional 542,485 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Uniti Group in the first quarter valued at about $434,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Uniti Group by 6.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 207,742 shares of the real estate investment trust’s stock worth $1,222,000 after buying an additional 13,302 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Stock Up 2.3 %

Shares of UNIT stock opened at $5.72 on Tuesday. The stock has a market cap of $1.40 billion, a P/E ratio of 13.71 and a beta of 1.31. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.71. The business has a fifty day simple moving average of $5.52 and a 200-day simple moving average of $4.30.

Analyst Upgrades and Downgrades

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

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 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.