Uniti Group Inc. $UNIT Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 36.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 489,444 shares of the real estate investment trust’s stock after selling 283,679 shares during the quarter. Rhumbline Advisers’ holdings in Uniti Group were worth $2,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. King Street Capital Management L.P. lifted its position in Uniti Group by 36.4% during the second quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock valued at $25,920,000 after purchasing an additional 1,600,000 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Uniti Group by 23.6% in the 1st 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 buying an additional 877,911 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Uniti Group by 36.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock valued at $14,213,000 after buying an additional 880,394 shares during the period. Bracebridge Capital LLC boosted its stake in shares of Uniti Group by 33.0% in the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock worth $13,974,000 after buying an additional 802,600 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Uniti Group by 4.0% during the second quarter. Marshall Wace LLP now owns 2,991,433 shares of the real estate investment trust’s stock worth $12,923,000 after acquiring an additional 113,792 shares during the period. 87.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UNIT has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Barclays set a $8.00 target price on shares of Uniti Group in a research note on Thursday, January 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.83.

Uniti Group Stock Down 0.5%

Shares of NASDAQ UNIT opened at $7.70 on Thursday. Uniti Group Inc. has a 52-week low of $5.30 and a 52-week high of $12.04. The company’s 50-day simple moving average is $7.63 and its 200-day simple moving average is $6.78. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 1.51 and a beta of 1.47.

Uniti Group Company Profile

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.