Corrado Advisors LLC Reduces Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Corrado Advisors LLC trimmed its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 11.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,970 shares of the real estate investment trust’s stock after selling 2,020 shares during the quarter. Corrado Advisors LLC’s holdings in Uniti Group were worth $90,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Uniti Group by 1.4% during the first quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock worth $226,809,000 after purchasing an additional 542,485 shares in the last quarter. LSV Asset Management increased its position in shares of Uniti Group by 1.3% during the first quarter. LSV Asset Management now owns 7,276,879 shares of the real estate investment trust’s stock worth $42,934,000 after purchasing an additional 91,408 shares in the last quarter. Davidson Kempner Capital Management LP increased its position in shares of Uniti Group by 17.7% during the second quarter. Davidson Kempner Capital Management LP now owns 5,480,000 shares of the real estate investment trust’s stock worth $16,002,000 after purchasing an additional 825,000 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Uniti Group by 244.7% during the second quarter. AQR Capital Management LLC now owns 2,254,810 shares of the real estate investment trust’s stock worth $6,584,000 after purchasing an additional 1,600,628 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Uniti Group by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 1,869,032 shares of the real estate investment trust’s stock worth $5,458,000 after purchasing an additional 74,832 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Uniti Group Stock Performance

NASDAQ UNIT opened at $5.90 on Friday. The stock’s fifty day moving average is $5.42 and its two-hundred day moving average is $4.32. The firm has a market capitalization of $1.44 billion, a P/E ratio of 14.39 and a beta of 1.31. Uniti Group Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $6.71.

About Uniti Group

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.