Uniti Group Inc. $UNIT Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of Uniti Group Inc. (NASDAQ:UNIT) by 72.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 892,673 shares of the real estate investment trust’s stock after selling 2,397,380 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Uniti Group were worth $5,463,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Inscription Capital LLC acquired a new stake in Uniti Group during the third quarter worth approximately $121,000. SG Americas Securities LLC purchased a new position in shares of Uniti Group in the 3rd quarter valued at $264,000. Texas Permanent School Fund Corp raised its stake in Uniti Group by 5.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 906,792 shares of the real estate investment trust’s stock worth $3,917,000 after acquiring an additional 49,458 shares in the last quarter. Osaic Holdings Inc. raised its stake in Uniti Group by 20.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,795 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Uniti Group by 12.1% in the second quarter. Neuberger Berman Group LLC now owns 35,156 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 3,806 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Trading Up 2.8%

Shares of UNIT stock opened at $8.05 on Friday. The company has a market capitalization of $1.19 billion, a P/E ratio of 1.57 and a beta of 1.47. The business’s 50 day moving average is $7.29 and its two-hundred day moving average is $6.59. Uniti Group Inc. has a twelve month low of $5.30 and a twelve month high of $12.34.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen lowered Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Barclays set a $8.00 price target on Uniti Group in a research report on Thursday, January 29th. JPMorgan Chase & Co. began coverage on Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.06.

About Uniti Group

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.