Intech Investment Management LLC Boosts Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Intech Investment Management LLC increased its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 32.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,605 shares of the real estate investment trust’s stock after purchasing an additional 40,493 shares during the period. Intech Investment Management LLC’s holdings in Uniti Group were worth $928,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in UNIT. Vanguard Group Inc. raised its holdings in Uniti Group by 1.4% during the first quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock worth $226,809,000 after purchasing an additional 542,485 shares in the last quarter. CANADA LIFE ASSURANCE Co raised 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 purchasing an additional 13,302 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Uniti Group by 64.4% in the first quarter. Lazard Asset Management LLC now owns 45,214 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 17,715 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Uniti Group by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 153,677 shares of the real estate investment trust’s stock valued at $907,000 after buying an additional 8,524 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Uniti Group in the first quarter valued at about $75,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Trading Down 1.8 %

Shares of Uniti Group stock opened at $5.88 on Friday. The company has a 50-day moving average of $5.62 and a two-hundred day moving average of $4.40. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.71. The stock has a market cap of $1.44 billion, a PE ratio of 14.34 and a beta of 1.31.

Analyst Upgrades and Downgrades

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.

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.