Pacer Advisors Inc. Sells 745,159 Shares of Uniti Group Inc. $UNIT

Pacer Advisors Inc. lessened its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 48.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 806,083 shares of the real estate investment trust’s stock after selling 745,159 shares during the period. Pacer Advisors Inc.’s holdings in Uniti Group were worth $4,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Uniti Group by 775.7% during the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 6,919 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Uniti Group in the second quarter valued at approximately $45,000. Osaic Holdings Inc. grew its holdings in Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,795 shares during the period. American Century Companies Inc. purchased a new stake in Uniti Group in the first quarter worth $65,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Uniti Group in the second quarter valued at $68,000. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Down 0.3%

Shares of UNIT opened at $7.01 on Tuesday. Uniti Group Inc. has a twelve month low of $5.30 and a twelve month high of $12.34. The stock has a market cap of $1.04 billion, a PE ratio of 1.37 and a beta of 1.49. The business’s 50-day moving average price is $6.48 and its 200-day moving average price is $5.98.

Analyst Ratings Changes

A number of brokerages have recently commented on UNIT. Barclays initiated coverage on Uniti Group in a research report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 22nd. Wall Street Zen downgraded shares of Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Zacks Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.66.

Uniti Group Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.