BNP Paribas Financial Markets Increases Holdings in Uniti Group Inc. (NASDAQ:UNIT)

BNP Paribas Financial Markets raised its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 206.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 212,489 shares of the real estate investment trust’s stock after acquiring an additional 143,210 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.09% of Uniti Group worth $1,198,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Uniti Group during the 2nd quarter worth $28,000. Meeder Advisory Services Inc. purchased a new position in shares of Uniti Group during the second quarter worth about $36,000. Everhart Financial Group Inc. acquired a new stake in shares of Uniti Group during the second quarter worth about $41,000. Choreo LLC purchased a new stake in shares of Uniti Group in the 2nd quarter valued at about $41,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Uniti Group by 138.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 12,291 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Down 2.6 %

NASDAQ:UNIT opened at $5.65 on Tuesday. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.71. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 13.78 and a beta of 1.35. The company’s 50-day moving average is $5.67 and its two-hundred day moving average is $4.52.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $5.50 price objective on shares of Uniti Group in a research note on Thursday, August 29th.

Uniti Group Company 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.