Louisiana State Employees Retirement System bought a new stake in Uniti Group Inc. (NASDAQ:UNIT – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 119,400 shares of the real estate investment trust’s stock, valued at approximately $690,000. Louisiana State Employees Retirement System owned 0.05% of Uniti Group at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in UNIT. KPP Advisory Services LLC bought a new position in shares of Uniti Group during the 3rd quarter worth $48,000. Park Avenue Securities LLC purchased a new stake in shares of Uniti Group during the 3rd quarter valued at approximately $59,000. Regent Peak Wealth Advisors LLC bought a new position in Uniti Group in the 4th quarter worth approximately $69,000. Commonwealth Equity Services LLC grew its stake in Uniti Group by 21.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,644 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 3,169 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new position in Uniti Group in the 4th quarter valued at approximately $85,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.
Uniti Group Price Performance
NASDAQ:UNIT opened at $5.78 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of -32.11 and a beta of 1.40. The stock’s fifty day moving average price is $5.88 and its two-hundred day moving average price is $5.47. Uniti Group Inc. has a 1 year low of $2.94 and a 1 year high of $6.71.
Uniti Group Dividend Announcement
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. TD Cowen increased their target price on Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. 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 Monday, March 25th.
View Our Latest Stock Report on UNIT
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.
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