Public Sector Pension Investment Board Sells 10,600 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Public Sector Pension Investment Board decreased its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 518,034 shares of the real estate investment trust’s stock after selling 10,600 shares during the period. Public Sector Pension Investment Board’s holdings in Uniti Group were worth $2,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UNIT. BNP Paribas Financial Markets raised its position in Uniti Group by 206.7% in the third quarter. BNP Paribas Financial Markets now owns 212,489 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 143,210 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Uniti Group by 19.7% during the 3rd quarter. Quantbot Technologies LP now owns 58,258 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 9,585 shares during the period. FMR LLC boosted its stake in Uniti Group by 30.6% in the 3rd quarter. FMR LLC now owns 296,932 shares of the real estate investment trust’s stock valued at $1,675,000 after buying an additional 69,573 shares in the last quarter. Bank of Montreal Can grew its position in Uniti Group by 136.2% in the third quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust’s stock valued at $9,104,000 after acquiring an additional 898,852 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Uniti Group by 10.0% in the third quarter. Daiwa Securities Group Inc. now owns 79,700 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 7,224 shares during the period. 87.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $5.50 target price on shares of Uniti Group in a research note on Thursday, August 29th.

Uniti Group Price Performance

NASDAQ UNIT opened at $5.81 on Wednesday. The stock’s 50 day simple moving average is $5.65 and its 200 day simple moving average is $4.46. The firm has a market cap of $1.42 billion, a PE ratio of 14.17 and a beta of 1.35. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.71.

Uniti Group Profile

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.