Penserra Capital Management LLC Acquires 56,420 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Penserra Capital Management LLC lifted its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 23.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 301,976 shares of the real estate investment trust’s stock after acquiring an additional 56,420 shares during the quarter. Penserra Capital Management LLC owned 0.12% of Uniti Group worth $1,703,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in Uniti Group by 244.7% in the second quarter. AQR Capital Management LLC now owns 2,254,810 shares of the real estate investment trust’s stock worth $6,584,000 after purchasing an additional 1,600,628 shares during the last quarter. Davidson Kempner Capital Management LP lifted its stake in shares of Uniti Group by 17.7% in the 2nd 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 acquiring an additional 825,000 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in Uniti Group by 548.9% during the 3rd quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust’s stock valued at $4,467,000 after acquiring an additional 670,000 shares during the period. Algert Global LLC grew its position in Uniti Group by 373.0% during the 3rd quarter. Algert Global LLC now owns 750,321 shares of the real estate investment trust’s stock worth $4,232,000 after acquiring an additional 591,678 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Uniti Group by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock worth $226,809,000 after purchasing an additional 542,485 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Price Performance

Shares of NASDAQ:UNIT opened at $6.03 on Tuesday. The stock’s 50-day moving average is $5.57 and its 200 day moving average is $4.35. The company has a market cap of $1.47 billion, a PE ratio of 14.71 and a beta of 1.31. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $5.50 price objective on shares of Uniti Group in a research note on Thursday, August 29th.

Uniti Group Profile

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.