60,136 Shares in Uniti Group Inc. $UNIT Acquired by RiverFront Investment Group LLC

RiverFront Investment Group LLC acquired a new stake in shares of Uniti Group Inc. (NASDAQ:UNIT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 60,136 shares of the real estate investment trust’s stock, valued at approximately $260,000.

A number of other institutional investors have also recently modified their holdings of the stock. Panagora Asset Management Inc. raised its position in shares of Uniti Group by 287.9% in the 1st quarter. Panagora Asset Management Inc. now owns 318,066 shares of the real estate investment trust’s stock worth $1,603,000 after purchasing an additional 236,061 shares during the last quarter. Vanguard Group Inc. raised its holdings in Uniti Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust’s stock worth $186,464,000 after buying an additional 151,070 shares during the last quarter. Nuveen LLC bought a new position in shares of Uniti Group in the first quarter worth approximately $6,158,000. Russell Investments Group Ltd. grew its holdings in shares of Uniti Group by 457.8% during the first quarter. Russell Investments Group Ltd. now owns 127,265 shares of the real estate investment trust’s stock valued at $641,000 after buying an additional 104,451 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Uniti Group by 20.0% during the first quarter. Intech Investment Management LLC now owns 731,267 shares of the real estate investment trust’s stock valued at $3,686,000 after buying an additional 122,029 shares during the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Stock Performance

UNIT stock opened at $6.26 on Wednesday. The company has a market cap of $926.35 million, a price-to-earnings ratio of 1.22 and a beta of 1.52. The business’s 50-day moving average is $6.08 and its two-hundred day moving average is $5.56. Uniti Group Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $12.62.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. started coverage on Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 target price for the company. Barclays began coverage on Uniti Group in a report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 price target on the stock. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wells Fargo & Company reduced their price objective on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Uniti Group has a consensus rating of “Hold” and an average price target of $6.55.

About Uniti Group

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.