Pitcairn Co. Purchases Shares of 12,164 Uniti Group Inc. (NASDAQ:UNIT)

Pitcairn Co. bought a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,164 shares of the real estate investment trust’s stock, valued at approximately $69,000.

Other large investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Uniti Group during the 2nd quarter worth approximately $28,000. Ballentine Partners LLC acquired a new position in shares of Uniti Group during the 3rd quarter worth approximately $64,000. Meeder Advisory Services Inc. purchased a new stake in shares of Uniti Group during the second quarter worth approximately $36,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Uniti Group during the first quarter worth approximately $75,000. Finally, Belvedere Trading LLC purchased a new stake in shares of Uniti Group during the third quarter worth approximately $76,000. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Stock Performance

Shares of UNIT opened at $5.88 on Friday. The stock has a 50 day moving average price of $5.62 and a 200 day moving average price of $4.40. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 14.34 and a beta of 1.31. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.71.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $5.50 price target on shares of Uniti Group in a research report 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.