Summit Wealth & Retirement Planning Inc. purchased a new stake in Uniti Group Inc (NASDAQ:UNIT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 33,356 shares of the real estate investment trust’s stock, valued at approximately $519,000.
Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Uniti Group in the 2nd quarter valued at approximately $366,000. Bank of Montreal Can boosted its holdings in shares of Uniti Group by 42.2% in the 3rd quarter. Bank of Montreal Can now owns 27,752 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 8,229 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Uniti Group by 33.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 86,300 shares of the real estate investment trust’s stock valued at $1,739,000 after buying an additional 21,800 shares in the last quarter. Oakbrook Investments LLC acquired a new position in shares of Uniti Group in the 3rd quarter valued at $217,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of Uniti Group by 23.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 15,592 shares of the real estate investment trust’s stock valued at $1,005,000 after buying an additional 2,918 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.
Several research analysts have recently issued reports on UNIT shares. BidaskClub cut shares of Uniti Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 15th. Zacks Investment Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Saturday, January 5th. Cowen cut shares of Uniti Group from an “outperform” rating to a “market perform” rating in a report on Tuesday. Morgan Stanley cut shares of Uniti Group from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $24.00 to $16.00 in a report on Wednesday, December 12th. Finally, ValuEngine upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Uniti Group has a consensus rating of “Hold” and a consensus target price of $21.00.
NASDAQ:UNIT traded down $1.25 during trading hours on Thursday, reaching $11.02. 9,333,153 shares of the company’s stock were exchanged, compared to its average volume of 3,544,873. The stock has a market cap of $2.20 billion, a P/E ratio of 4.39, a P/E/G ratio of 0.56 and a beta of 1.28. Uniti Group Inc has a 1-year low of $10.71 and a 1-year high of $23.42.
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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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