Uniti Group (NASDAQ:UNIT) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Uniti Group (NASDAQ:UNIT) in a research note published on Thursday. The firm issued a neutral rating and a $7.00 price target on the real estate investment trust’s stock.

A number of other equities analysts have also commented on the stock. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Wells Fargo & Company raised their price target on Uniti Group from $4.50 to $7.50 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Uniti Group in a research note on Wednesday, October 8th. Finally, Barclays initiated coverage on Uniti Group in a research report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Uniti Group currently has an average rating of “Hold” and an average price target of $6.63.

Uniti Group Stock Up 3.4%

Shares of NASDAQ UNIT opened at $6.00 on Thursday. The stock’s 50-day simple moving average is $6.22 and its two-hundred day simple moving average is $5.31. Uniti Group has a twelve month low of $5.30 and a twelve month high of $12.62. The firm has a market capitalization of $887.88 million, a P/E ratio of 21.81 and a beta of 1.56.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $300.73 million for the quarter, compared to the consensus estimate of $304.06 million. Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. Uniti Group has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Uniti Group will post 1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. King Street Capital Management L.P. boosted its holdings in Uniti Group by 36.4% during the 2nd quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock valued at $25,920,000 after acquiring an additional 1,600,000 shares during the period. Nuveen LLC purchased a new stake in shares of Uniti Group during the first quarter valued at approximately $6,158,000. Thrivent Financial for Lutherans grew its holdings in shares of Uniti Group by 36.5% in the second quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock worth $14,213,000 after purchasing an additional 880,394 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Uniti Group by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after buying an additional 877,911 shares during the period. Finally, Bracebridge Capital LLC increased its stake in shares of Uniti Group by 33.0% in the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock worth $13,974,000 after buying an additional 802,600 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Company Profile

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.