Belvedere Trading LLC Takes Position in Uniti Group Inc. (NASDAQ:UNIT)

Belvedere Trading LLC acquired a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 13,494 shares of the real estate investment trust’s stock, valued at approximately $76,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of UNIT. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Uniti Group during the 2nd quarter worth approximately $28,000. Meeder Advisory Services Inc. bought a new stake in Uniti Group during the second quarter worth $36,000. Everhart Financial Group Inc. acquired a new stake in Uniti Group in the second quarter valued at $41,000. Choreo LLC bought a new position in shares of Uniti Group in the 2nd quarter valued at about $41,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Uniti Group by 138.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 12,291 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated 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 Stock Performance

Shares of UNIT opened at $5.62 on Tuesday. The firm’s 50-day simple moving average is $5.31 and its 200 day simple moving average is $4.29. The firm has a market cap of $1.37 billion, a P/E ratio of 13.71 and a beta of 1.31. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71.

Uniti Group Company 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.