Thrivent Financial for Lutherans Has $3.25 Million Stake in Uniti Group Inc. (NASDAQ:UNIT)

Thrivent Financial for Lutherans boosted its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 189.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576,413 shares of the real estate investment trust’s stock after buying an additional 376,964 shares during the period. Thrivent Financial for Lutherans owned about 0.24% of Uniti Group worth $3,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Uniti Group during the 2nd quarter valued at about $28,000. Meeder Advisory Services Inc. acquired a new stake in Uniti Group during the second quarter valued at approximately $36,000. Everhart Financial Group Inc. bought a new stake in shares of Uniti Group in the 2nd quarter valued at approximately $41,000. Choreo LLC bought a new stake in shares of Uniti Group in the 2nd quarter valued at approximately $41,000. Finally, DekaBank Deutsche Girozentrale raised 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 worth $62,000 after buying an additional 12,291 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Down 1.3 %

Shares of Uniti Group stock opened at $6.03 on Tuesday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 14.90 and a beta of 1.31. The firm’s 50-day moving average price is $5.57 and its two-hundred day moving average price is $4.35. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued 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.