Thrivent Financial for Lutherans Lowers Stake in Uniti Group Inc. $UNIT

Thrivent Financial for Lutherans lessened its stake in Uniti Group Inc. (NASDAQ:UNIT) by 72.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 892,673 shares of the real estate investment trust’s stock after selling 2,397,380 shares during the period. Thrivent Financial for Lutherans owned about 0.60% of Uniti Group worth $5,463,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Uniti Group by 775.7% in the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 6,919 shares in the last quarter. Osaic Holdings Inc. boosted its holdings 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 valued at $46,000 after acquiring an additional 1,795 shares during the period. QRG Capital Management Inc. acquired a new position in Uniti Group in the 2nd quarter valued at about $68,000. United Services Automobile Association purchased a new stake in Uniti Group during the first quarter worth about $80,000. Finally, Journey Strategic Wealth LLC increased its stake in Uniti Group by 11.1% during the second quarter. Journey Strategic Wealth LLC now owns 19,236 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 1,924 shares during the period. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on UNIT. Barclays set a $8.00 price objective on shares of Uniti Group in a research note on Thursday, January 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Wells Fargo & Company cut their price objective on 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. JPMorgan Chase & Co. initiated coverage on Uniti Group in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price objective on the stock. Finally, Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Uniti Group has an average rating of “Hold” and an average target price of $7.06.

Uniti Group Trading Up 2.8%

Shares of UNIT opened at $8.05 on Friday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 1.57 and a beta of 1.47. The firm’s fifty day simple moving average is $7.29 and its 200-day simple moving average is $6.59. Uniti Group Inc. has a twelve month low of $5.30 and a twelve month high of $12.34.

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.