Uniti Group (NASDAQ:UNIT) Shares Down 6.3% – Should You Sell?

Uniti Group Inc. (NASDAQ:UNIT) traded down 6.3% during mid-day trading on Tuesday . The stock traded as low as $5.51 and last traded at $5.46. 861,549 shares traded hands during trading, a decline of 48% from the average session volume of 1,663,884 shares. The stock had previously closed at $5.82.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upped their price objective on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a research note on Monday, December 23rd.

Uniti Group Stock Performance

The firm’s 50 day moving average is $5.60 and its 200-day moving average is $5.37. The company has a market cap of $1.35 billion, a PE ratio of 13.51 and a beta of 1.31.

Institutional Trading of Uniti Group

Several hedge funds have recently made changes to their positions in the company. Golden State Equity Partners grew its stake in shares of Uniti Group by 9.5% in the 4th quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 2,000 shares during the period. Franklin Resources Inc. grew its stake in shares of Uniti Group by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock valued at $572,000 after buying an additional 2,328 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Uniti Group by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust’s stock valued at $1,402,000 after buying an additional 2,397 shares during the period. Arizona State Retirement System grew its stake in shares of Uniti Group by 3.6% in the 4th quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 2,460 shares during the period. Finally, Inspire Investing LLC grew its stake in shares of Uniti Group by 3.6% in the 4th quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust’s stock valued at $405,000 after buying an additional 2,563 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

About Uniti Group

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.