Centiva Capital LP Makes New Investment in Uniti Group Inc. (NASDAQ:UNIT)

Centiva Capital LP bought a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) during the third quarter, Holdings Channel.com reports. The fund bought 19,935 shares of the real estate investment trust’s stock, valued at approximately $112,000.

Several other institutional investors and hedge funds have also recently modified their holdings of UNIT. AQR Capital Management LLC increased its position in shares of Uniti Group by 244.7% in the second quarter. AQR Capital Management LLC now owns 2,254,810 shares of the real estate investment trust’s stock valued at $6,584,000 after buying an additional 1,600,628 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Uniti Group in the 3rd quarter valued at $6,218,000. Bank of Montreal Can increased its holdings in Uniti Group by 136.2% in the 3rd quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust’s stock worth $9,104,000 after acquiring an additional 898,852 shares in the last quarter. Davidson Kempner Capital Management LP raised its position in Uniti Group by 17.7% during the second quarter. Davidson Kempner Capital Management LP now owns 5,480,000 shares of the real estate investment trust’s stock worth $16,002,000 after acquiring an additional 825,000 shares during the period. Finally, Mizuho Markets Americas LLC lifted its holdings in Uniti Group by 548.9% during the third quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust’s stock valued at $4,467,000 after purchasing an additional 670,000 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Price Performance

Shares of NASDAQ:UNIT opened at $6.07 on Friday. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The firm has a market capitalization of $1.48 billion, a PE ratio of 14.81 and a beta of 1.35. The business’s 50 day moving average price is $5.71 and its 200-day moving average price is $4.58.

Analysts Set New Price Targets

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