Wealth Enhancement Advisory Services LLC increased its stake in Uniti Group Inc. (NASDAQ:UNIT – Free Report) by 47.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,863 shares of the real estate investment trust’s stock after purchasing an additional 11,161 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Uniti Group were worth $152,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. KBC Group NV bought a new position in shares of Uniti Group in the first quarter worth approximately $28,000. American Century Companies Inc. bought a new position in shares of Uniti Group in the first quarter worth approximately $65,000. Inspire Advisors LLC bought a new position in shares of Uniti Group in the first quarter worth approximately $66,000. Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Uniti Group in the first quarter worth approximately $67,000. Finally, United Services Automobile Association bought a new position in shares of Uniti Group in the first quarter worth approximately $80,000. 87.51% of the stock is currently owned by institutional investors.
Uniti Group Stock Performance
NASDAQ:UNIT opened at $5.73 on Friday. The firm has a market cap of $847.93 million, a PE ratio of 20.83 and a beta of 1.56. Uniti Group Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $12.62. The business has a 50 day moving average price of $6.47 and a 200-day moving average price of $5.25.
Wall Street Analyst Weigh In
Several brokerages have issued reports on UNIT. Wall Street Zen lowered Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Uniti Group in a research note on Wednesday. Barclays began 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. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their target price on Uniti Group from $4.50 to $7.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.56.
Read Our Latest Stock Report on UNIT
About Uniti Group
Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.
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