Centiva Capital LP Buys Shares of 19,935 Uniti Group Inc. (NASDAQ:UNIT)

Centiva Capital LP purchased a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,935 shares of the real estate investment trust’s stock, valued at approximately $112,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Davidson Kempner Capital Management LP boosted its stake in 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 worth $16,002,000 after purchasing an additional 825,000 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Uniti Group by 206.7% during the third quarter. BNP Paribas Financial Markets now owns 212,489 shares of the real estate investment trust’s stock worth $1,198,000 after buying an additional 143,210 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Uniti Group during the second quarter valued at $362,000. Charles Schwab Investment Management Inc. increased its position in shares of Uniti Group by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust’s stock valued at $44,413,000 after acquiring an additional 452,411 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in Uniti Group by 352.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 653,203 shares of the real estate investment trust’s stock worth $1,907,000 after acquiring an additional 508,699 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Uniti Group Price Performance

NASDAQ:UNIT opened at $6.07 on Friday. The company’s fifty day moving average price is $5.71 and its 200-day moving average price is $4.58. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71. The firm has a market capitalization of $1.48 billion, a P/E ratio of 14.81 and a beta of 1.35.

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.