Sonora Investment Management Group LLC lowered its stake in Uniti Group Inc. (NASDAQ:UNIT – Free Report) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 279,335 shares of the real estate investment trust’s stock after selling 3,445 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Uniti Group were worth $1,536,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Uniti Group in the second quarter valued at about $28,000. Ballentine Partners LLC bought a new stake in shares of Uniti Group in the third quarter worth about $64,000. Pitcairn Co. purchased a new position in Uniti Group during the 3rd quarter valued at about $69,000. Virtu Financial LLC bought a new position in Uniti Group during the 3rd quarter valued at approximately $70,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Uniti Group during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Royal Bank of Canada raised their price target on Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd.
Uniti Group Stock Performance
Shares of NASDAQ:UNIT opened at $5.49 on Friday. The firm has a market capitalization of $1.34 billion, a P/E ratio of 13.39 and a beta of 1.33. The stock has a 50 day moving average price of $5.69 and a 200-day moving average price of $5.20. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.71.
About Uniti Group
Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.
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