DekaBank Deutsche Girozentrale Has $51,000 Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

DekaBank Deutsche Girozentrale cut its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 58.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,903 shares of the real estate investment trust’s stock after selling 12,291 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Uniti Group were worth $51,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Uniti Group by 14.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,387 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 2,852 shares during the last quarter. Ballentine Partners LLC bought a new position in Uniti Group in the third quarter valued at about $64,000. Everence Capital Management Inc. boosted its holdings in Uniti Group by 24.2% in the third quarter. Everence Capital Management Inc. now owns 44,310 shares of the real estate investment trust’s stock valued at $250,000 after acquiring an additional 8,630 shares during the last quarter. Park Avenue Securities LLC bought a new position in Uniti Group in the third quarter valued at about $84,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Uniti Group in the second quarter valued at about $28,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Trading Up 6.4 %

Shares of UNIT opened at $5.62 on Tuesday. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The stock has a market cap of $1.37 billion, a P/E ratio of 13.71 and a beta of 1.31. The stock’s 50-day moving average price is $5.31 and its two-hundred day moving average price is $4.29.

Analyst Upgrades and Downgrades

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

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 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.