UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 332,115 Shares of Uniti Group Inc. (NASDAQ:UNIT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 129.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 588,723 shares of the real estate investment trust’s stock after acquiring an additional 332,115 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Uniti Group were worth $3,320,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of UNIT. Mackenzie Financial Corp raised its holdings in shares of Uniti Group by 9.6% in the second quarter. Mackenzie Financial Corp now owns 30,923 shares of the real estate investment trust’s stock valued at $90,000 after purchasing an additional 2,711 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Uniti Group by 14.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,387 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 2,852 shares in the last quarter. Van ECK Associates Corp increased its stake in Uniti Group by 9.3% in the 2nd quarter. Van ECK Associates Corp now owns 50,294 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 4,271 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Uniti Group by 10.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 79,700 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 7,224 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Uniti Group by 6.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,636 shares of the real estate investment trust’s stock worth $364,000 after buying an additional 7,302 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Stock Performance

NASDAQ:UNIT opened at $6.07 on Friday. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71. The firm’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $4.58. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 14.81 and a beta of 1.35.

Wall Street Analysts Forecast Growth

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