Bank of New York Mellon Corp Trims Stake in Uniti Group Inc. $UNIT

Bank of New York Mellon Corp cut its stake in Uniti Group Inc. (NASDAQ:UNIT) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,612,241 shares of the real estate investment trust’s stock after selling 59,080 shares during the period. Bank of New York Mellon Corp owned 0.66% of Uniti Group worth $6,965,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State of Wyoming raised its position in shares of Uniti Group by 14.1% in the 1st quarter. State of Wyoming now owns 51,084 shares of the real estate investment trust’s stock worth $257,000 after acquiring an additional 6,317 shares in the last quarter. CWM LLC grew its stake in Uniti Group by 17.4% in the second quarter. CWM LLC now owns 42,930 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 6,359 shares during the period. Inspire Investing LLC raised its holdings in Uniti Group by 9.6% in the first quarter. Inspire Investing LLC now owns 80,743 shares of the real estate investment trust’s stock worth $407,000 after purchasing an additional 7,092 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Uniti Group by 3.5% in the second quarter. State of Alaska Department of Revenue now owns 260,845 shares of the real estate investment trust’s stock worth $1,125,000 after purchasing an additional 8,917 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in Uniti Group by 9.4% during the first quarter. Resona Asset Management Co. Ltd. now owns 105,942 shares of the real estate investment trust’s stock valued at $523,000 after buying an additional 9,061 shares during the period. 87.51% of the stock is owned by institutional investors.

Uniti Group Stock Up 1.9%

NASDAQ:UNIT opened at $5.97 on Friday. The stock has a market cap of $883.44 million, a price-to-earnings ratio of 1.17 and a beta of 1.52. The company’s 50 day moving average price is $6.10 and its 200-day moving average price is $5.52. Uniti Group Inc. has a 52 week low of $5.30 and a 52 week high of $12.62.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UNIT shares. Weiss Ratings raised shares of Uniti Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday. Barclays assumed coverage on shares of Uniti Group in a research note on Friday, October 3rd. They set an “equal weight” rating and a $6.00 target price for the company. 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 target on the stock. Finally, Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Uniti Group currently has an average rating of “Hold” and a consensus target price of $6.55.

Uniti Group Company Profile

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.