Fmr LLC Acquires 69,573 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Fmr LLC raised its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 30.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 296,932 shares of the real estate investment trust’s stock after purchasing an additional 69,573 shares during the quarter. Fmr LLC’s holdings in Uniti Group were worth $1,675,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Uniti Group during the second quarter worth $28,000. Meeder Advisory Services Inc. bought a new stake in shares of Uniti Group during the second quarter worth $36,000. Everhart Financial Group Inc. bought a new stake in shares of Uniti Group during the second quarter worth $41,000. Choreo LLC bought a new stake in shares of Uniti Group during the second quarter worth $41,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Uniti Group by 138.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 12,291 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

Analyst Ratings Changes

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

Uniti Group Stock Down 0.8 %

UNIT stock opened at $6.07 on Monday. The business has a fifty day moving average of $5.71 and a 200-day moving average of $4.60. The company has a market cap of $1.48 billion, a P/E ratio of 14.81 and a beta of 1.35. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71.

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.