Pacer Advisors Inc. Sells 259,108 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Pacer Advisors Inc. cut its stake in Uniti Group Inc. (NASDAQ:UNIT) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,483,304 shares of the real estate investment trust’s stock after selling 259,108 shares during the period. Pacer Advisors Inc. owned about 0.61% of Uniti Group worth $8,366,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP boosted its holdings in shares of Uniti Group by 17.7% in the second quarter. Davidson Kempner Capital Management LP now owns 5,480,000 shares of the real estate investment trust’s stock valued at $16,002,000 after purchasing an additional 825,000 shares during the period. Intech Investment Management LLC bought a new position in shares of Uniti Group during the 2nd quarter worth $362,000. Strategic Financial Concepts LLC increased its stake in shares of Uniti Group by 352.0% during the second quarter. Strategic Financial Concepts LLC now owns 653,203 shares of the real estate investment trust’s stock valued at $1,907,000 after buying an additional 508,699 shares during the period. Mizuho Markets Americas LLC raised its holdings in shares of Uniti Group by 548.9% in the third quarter. Mizuho Markets Americas LLC now owns 792,054 shares of the real estate investment trust’s stock valued at $4,467,000 after acquiring an additional 670,000 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Uniti Group by 7.5% in the first quarter. ProShare Advisors LLC now owns 48,051 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 3,339 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Analysts Set New Price Targets

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

Uniti Group Stock Up 3.6 %

Uniti Group stock opened at $6.11 on Friday. The firm has a market cap of $1.49 billion, a P/E ratio of 14.90 and a beta of 1.31. The business has a fifty day moving average of $5.57 and a two-hundred day moving average of $4.34. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71.

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.