Public Sector Pension Investment Board Sells 308,325 Shares of Uniti Group Inc. $UNIT

Public Sector Pension Investment Board reduced its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 30.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 697,985 shares of the real estate investment trust’s stock after selling 308,325 shares during the quarter. Public Sector Pension Investment Board owned about 0.47% of Uniti Group worth $4,272,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. King Street Capital Management L.P. grew its holdings 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. raised its holdings in Uniti Group by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after purchasing an additional 877,911 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 purchasing an additional 880,394 shares in the last quarter. Bracebridge Capital LLC grew its holdings in shares of 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 buying an additional 802,600 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Uniti Group by 4.0% in the 2nd quarter. Marshall Wace LLP now owns 2,991,433 shares of the real estate investment trust’s stock valued at $12,923,000 after buying an additional 113,792 shares during the period. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Trading Up 3.2%

UNIT stock opened at $8.58 on Friday. The stock has a 50-day moving average price of $7.60 and a two-hundred day moving average price of $6.76. Uniti Group Inc. has a 1 year low of $5.30 and a 1 year high of $12.34. The stock has a market cap of $1.27 billion, a PE ratio of 1.68 and a beta of 1.47.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Wall Street Zen upgraded Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday. Barclays set a $8.00 price objective on Uniti Group in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Uniti Group has an average rating of “Hold” and an average price target of $7.06.

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.