Neuburgh Advisers LLC lifted its position in shares of Uniti Group Inc (NASDAQ:UNIT) by 47.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,518 shares of the real estate investment trust’s stock after purchasing an additional 15,504 shares during the quarter. Neuburgh Advisers LLC’s holdings in Uniti Group were worth $755,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dupont Capital Management Corp purchased a new position in shares of Uniti Group during the 4th quarter valued at approximately $228,000. Kepos Capital LP purchased a new position in shares of Uniti Group during the 3rd quarter valued at approximately $329,000. Pacer Advisors Inc. lifted its position in shares of Uniti Group by 20.8% during the 3rd quarter. Pacer Advisors Inc. now owns 67,393 shares of the real estate investment trust’s stock valued at $1,358,000 after buying an additional 11,594 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Uniti Group by 18.7% during the 4th quarter. IFP Advisors Inc now owns 6,484 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 1,020 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Uniti Group by 7.4% during the 3rd quarter. American International Group Inc. now owns 356,939 shares of the real estate investment trust’s stock valued at $7,192,000 after buying an additional 24,534 shares in the last quarter. 73.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of UNIT stock opened at $9.36 on Friday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 3.73, a PEG ratio of 1.14 and a beta of 1.04. Uniti Group Inc has a fifty-two week low of $8.06 and a fifty-two week high of $23.42.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, January 5th. ValuEngine lowered Uniti Group from a “hold” rating to a “sell” rating in a report on Friday, November 16th. BidaskClub lowered Uniti Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 15th. Wells Fargo & Co lowered Uniti Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $23.00 to $17.00 in a report on Tuesday, January 8th. Finally, Morgan Stanley lowered Uniti Group from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $24.00 to $16.00 in a report on Wednesday, December 12th. Seven research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus target price of $20.57.
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About Uniti Group
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 wireless infrastructure solutions for the communications industry. As of September 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 850 wireless towers, and other communications real estate throughout the United States and Latin America.
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