Pacer Advisors Inc. Reduces Stock Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Pacer Advisors Inc. reduced its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 14.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,483,304 shares of the real estate investment trust’s stock after selling 259,108 shares during the quarter. Pacer Advisors Inc.’s holdings in Uniti Group were worth $8,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UNIT. Intech Investment Management LLC increased its holdings in shares of Uniti Group by 32.6% during the third quarter. Intech Investment Management LLC now owns 164,605 shares of the real estate investment trust’s stock valued at $928,000 after acquiring an additional 40,493 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Uniti Group by 189.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 576,413 shares of the real estate investment trust’s stock worth $3,251,000 after purchasing an additional 376,964 shares during the last quarter. Mizuho Markets Americas LLC increased its stake 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 purchasing an additional 670,000 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Uniti Group in the third quarter worth $386,000. Finally, Belvedere Trading LLC acquired a new stake in shares of Uniti Group during the third quarter worth $76,000. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Uniti Group Price Performance

NASDAQ UNIT opened at $6.11 on Friday. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The company has a market capitalization of $1.49 billion, a PE ratio of 14.90 and a beta of 1.31. The company has a fifty day moving average of $5.57 and a 200 day moving average of $4.34.

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.