HighTower Advisors LLC Sells 2,355 Shares of Uniti Group Inc. (NASDAQ:UNIT)

HighTower Advisors LLC reduced its stake in Uniti Group Inc. (NASDAQ:UNIT) by 18.7% during the third quarter, Holdings Channel.com reports. The firm owned 10,243 shares of the real estate investment trust’s stock after selling 2,355 shares during the quarter. HighTower Advisors LLC’s holdings in Uniti Group were worth $57,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of UNIT. Centiva Capital LP bought a new position in shares of Uniti Group in the third quarter worth about $112,000. Paloma Partners Management Co purchased a new stake in Uniti Group in the 3rd quarter worth approximately $6,218,000. Point72 Asia Singapore Pte. Ltd. raised its stake in Uniti Group by 106.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,523 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 10,064 shares during the period. Verition Fund Management LLC purchased a new position in Uniti Group during the third quarter valued at approximately $2,038,000. Finally, Captrust Financial Advisors bought a new position in shares of Uniti Group in the third quarter worth approximately $90,000. 87.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised their price objective on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a research report on Monday.

Uniti Group Trading Down 0.9 %

NASDAQ:UNIT opened at $5.47 on Friday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 13.34 and a beta of 1.35. The stock has a 50-day moving average price of $5.74 and a 200 day moving average price of $4.73. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.71.

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.