Paloma Partners Management Co Buys New Position in Uniti Group Inc. (NASDAQ:UNIT)

Paloma Partners Management Co bought a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,102,521 shares of the real estate investment trust’s stock, valued at approximately $6,218,000. Paloma Partners Management Co owned 0.45% of Uniti Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in UNIT. Mackenzie Financial Corp increased its position in shares of Uniti Group by 9.6% during the second quarter. Mackenzie Financial Corp now owns 30,923 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 2,711 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Uniti Group by 14.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,387 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 2,852 shares during the period. Van ECK Associates Corp raised its position in shares of Uniti Group by 9.3% in the 2nd quarter. Van ECK Associates Corp now owns 50,294 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 4,271 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Uniti Group by 10.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 79,700 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 7,224 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Uniti Group by 6.2% during the second quarter. The Manufacturers Life Insurance Company now owns 124,636 shares of the real estate investment trust’s stock worth $364,000 after purchasing an additional 7,302 shares during the period. Institutional investors own 87.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Uniti Group Trading Up 0.5 %

UNIT opened at $5.91 on Monday. The company has a fifty day moving average price of $5.63 and a two-hundred day moving average price of $4.42. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71. The company has a market cap of $1.44 billion, a P/E ratio of 14.41 and a beta of 1.31.

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.