Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 27.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,085 shares of the real estate investment trust’s stock after selling 34,551 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Uniti Group were worth $508,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of UNIT. Davidson Kempner Capital Management LP grew its holdings in shares of Uniti Group by 17.7% during the second quarter. Davidson Kempner Capital Management LP now owns 5,480,000 shares of the real estate investment trust’s stock valued at $16,002,000 after purchasing an additional 825,000 shares during the last quarter. Intech Investment Management LLC bought a new position in Uniti Group during the 2nd quarter worth $362,000. Charles Schwab Investment Management Inc. increased its position in Uniti Group by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust’s stock worth $44,413,000 after buying an additional 452,411 shares during the period. Strategic Financial Concepts LLC lifted its stake in Uniti Group by 352.0% in the second quarter. Strategic Financial Concepts LLC now owns 653,203 shares of the real estate investment trust’s stock valued at $1,907,000 after buying an additional 508,699 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Uniti Group by 136.2% during the third quarter. Bank of Montreal Can now owns 1,558,969 shares of the real estate investment trust’s stock valued at $9,104,000 after acquiring an additional 898,852 shares during the period. Institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Uniti Group Price Performance

Shares of UNIT stock opened at $6.07 on Friday. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.71. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 14.81 and a beta of 1.35. The business has a 50 day simple moving average of $5.71 and a 200 day simple moving average of $4.59.

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.