Uniti Group Inc. $UNIT Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in Uniti Group Inc. (NASDAQ:UNIT) by 81.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,746 shares of the real estate investment trust’s stock after selling 156,454 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Uniti Group were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. King Street Capital Management L.P. raised its stake in Uniti Group by 36.4% in the 2nd quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock valued at $25,920,000 after purchasing an additional 1,600,000 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Uniti Group by 36.5% during the second quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock worth $14,213,000 after buying an additional 880,394 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Uniti Group by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after buying an additional 877,911 shares during the last quarter. Bracebridge Capital LLC lifted its stake in shares of Uniti Group by 33.0% during the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock valued at $13,974,000 after buying an additional 802,600 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of Uniti Group by 99.9% during the second quarter. Prudential Financial Inc. now owns 1,176,454 shares of the real estate investment trust’s stock valued at $5,082,000 after buying an additional 587,885 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on UNIT. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 9th. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. JPMorgan Chase & Co. assumed coverage on Uniti Group in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price objective for the company. Barclays started coverage on Uniti Group in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Uniti Group presently has an average rating of “Hold” and a consensus price target of $6.66.

Uniti Group Price Performance

Shares of NASDAQ UNIT opened at $7.13 on Wednesday. The stock has a market capitalization of $1.06 billion, a PE ratio of 1.39 and a beta of 1.45. The firm has a fifty day moving average of $6.61 and a 200-day moving average of $6.10. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.34.

Uniti Group Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.