State of Alaska Department of Revenue Trims Stake in Uniti Group Inc. $UNIT

State of Alaska Department of Revenue reduced its position in Uniti Group Inc. (NASDAQ:UNIT) by 39.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,235 shares of the real estate investment trust’s stock after selling 101,610 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.11% of Uniti Group worth $974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. King Street Capital Management L.P. boosted 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 worth $25,920,000 after purchasing an additional 1,600,000 shares during the period. Thrivent Financial for Lutherans boosted its position 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 acquiring an additional 880,394 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Uniti Group by 23.6% during 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 acquiring an additional 877,911 shares in the last quarter. Bracebridge Capital LLC increased its holdings in Uniti Group by 33.0% in the 2nd quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock valued at $13,974,000 after acquiring an additional 802,600 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Uniti Group by 99.9% in the 2nd quarter. Prudential Financial Inc. now owns 1,176,454 shares of the real estate investment trust’s stock valued at $5,082,000 after acquiring an additional 587,885 shares during the last quarter. 87.51% of the stock is owned by institutional investors.

Uniti Group Stock Up 0.1%

Shares of UNIT stock opened at $7.51 on Monday. The company’s 50 day moving average is $6.85 and its 200 day moving average is $6.28. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 1.47 and a beta of 1.45. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.34.

Analyst Upgrades and Downgrades

UNIT has been the subject of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. JPMorgan Chase & Co. assumed coverage on Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 target price for the company. Wall Street Zen upgraded Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Barclays reiterated a “positive” rating and set a $7.00 price objective on shares of Uniti Group in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.86.

About Uniti Group

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.