Public Sector Pension Investment Board Sells 308,325 Shares of Uniti Group Inc. $UNIT

Public Sector Pension Investment Board lessened its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 30.6% during the third quarter, HoldingsChannel.com reports. The firm owned 697,985 shares of the real estate investment trust’s stock after selling 308,325 shares during the period. Public Sector Pension Investment Board’s holdings in Uniti Group were worth $4,272,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in UNIT. Illinois Municipal Retirement Fund bought a new position in Uniti Group in the third quarter valued at $436,000. Inscription Capital LLC acquired a new position in shares of Uniti Group during the 3rd quarter worth about $121,000. SG Americas Securities LLC bought a new position in shares of Uniti Group in the 3rd quarter valued at about $264,000. Texas Permanent School Fund Corp increased its position in shares of Uniti Group by 5.8% in the second quarter. Texas Permanent School Fund Corp now owns 906,792 shares of the real estate investment trust’s stock valued at $3,917,000 after acquiring an additional 49,458 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,795 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Wall Street Zen upgraded Uniti Group from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company cut 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. Finally, Barclays set a $8.00 target price on shares of Uniti Group in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Uniti Group presently has a consensus rating of “Hold” and a consensus target price of $7.06.

Uniti Group Trading Up 3.2%

Shares of NASDAQ UNIT opened at $8.58 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of 1.68 and a beta of 1.47. Uniti Group Inc. has a 12 month low of $5.30 and a 12 month high of $12.34. The stock has a 50 day moving average of $7.60 and a 200-day moving average of $6.76.

Uniti Group Company 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.