Range Financial Group LLC Invests $201,000 in Uniti Group Inc. (NASDAQ:UNIT)

Range Financial Group LLC acquired a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 36,562 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in shares of Uniti Group by 2.2% during the third quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock worth $572,000 after buying an additional 2,328 shares during the period. Mackenzie Financial Corp boosted its holdings in Uniti Group by 9.6% during the 2nd quarter. Mackenzie Financial Corp now owns 30,923 shares of the real estate investment trust’s stock valued at $90,000 after acquiring an additional 2,711 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Uniti Group by 14.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,387 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 2,852 shares in the last quarter. Van ECK Associates Corp increased its stake in Uniti Group by 9.3% during the second quarter. Van ECK Associates Corp now owns 50,294 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 4,271 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in Uniti Group by 2.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 300,600 shares of the real estate investment trust’s stock worth $1,695,000 after purchasing an additional 7,000 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Trading Down 1.5 %

NASDAQ:UNIT opened at $5.41 on Wednesday. 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 $1.32 billion, a PE ratio of 13.20 and a beta of 1.33. The stock has a fifty day moving average price of $5.71 and a 200 day moving average price of $4.90.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted their price objective on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd.

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.