Jupiter Asset Management Invests in Uniti Group with New Stake

Jupiter Asset Management Ltd. has established a new stake in Uniti Group Inc. (NASDAQ: UNIT), according to its latest disclosure with the Securities and Exchange Commission (SEC). During the second quarter of the year, the firm acquired 169,203 shares of the real estate investment trust, valued at approximately $731,000. Following this transaction, Jupiter Asset Management holds about 0.11% of Uniti Group’s total shares.

The move reflects a broader trend among institutional investors, as several have recently adjusted their holdings in Uniti Group. Allworth Financial LP significantly increased its position by 775.7% during the same quarter, now owning 7,811 shares valued at $34,000 after acquiring an additional 6,919 shares. Other notable investments include Park Avenue Securities LLC, which purchased a stake valued at approximately $45,000, and American Century Companies Inc., which acquired shares worth $65,000.

Analysts Adjust Price Targets for Uniti Group

Equities analysts have also weighed in on the outlook for Uniti Group. Recently, Wells Fargo & Company reduced its price target from $7.50 to $7.00 while maintaining an “equal weight” rating. Similarly, Barclays initiated coverage with an “equal weight” rating, setting a target price of $6.00.

On the other hand, Wall Street Zen upgraded its rating from “sell” to “hold.” Analysts’ ratings for Uniti Group show one Strong Buy, six Hold, and one Sell, with an average rating of “Hold” and a consensus target price of $6.55, according to data from MarketBeat.com.

Uniti Group Stock Performance and Company Overview

On the trading floor, shares of Uniti Group opened at $6.28 and have seen a market capitalization of $929.34 million. The company has a price-to-earnings (P/E) ratio of 1.23 and a beta of 1.52. Over the past year, the stock has experienced a low of $5.30 and a high of $12.62. Its 50-day moving average currently stands at $6.20, while the two-hundred-day moving average is at $5.48.

Uniti Group Inc. operates as a real estate investment trust focused on acquiring, constructing, and leasing properties. The company segments its operations into Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment is specifically involved in managing mission-critical communication assets, which include both exclusive and shared-tenant arrangements as well as dark fiber networks.

As institutional interest in Uniti Group continues to evolve, the market will be watching closely to see how these investments and analyst ratings impact the stock’s performance in the coming months.