Uniti Group Inc. (NASDAQ:UNIT) Receives $6.63 Consensus PT from Analysts

Uniti Group Inc. (NASDAQ:UNIT) has earned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.55.

A number of research analysts recently weighed in on UNIT shares. Weiss Ratings reissued a “sell (d)” rating on shares of Uniti Group in a report on Wednesday, October 8th. Barclays started coverage on shares of Uniti Group in a report on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 price objective on the stock. Wells Fargo & Company dropped their price objective 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. Wall Street Zen raised shares of Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. began coverage on shares of Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price target on the stock.

Institutional Trading of Uniti Group

Several institutional investors have recently added to or reduced their stakes in UNIT. KBC Group NV bought a new position in Uniti Group during the 1st quarter worth $28,000. Allworth Financial LP boosted its position 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 acquiring an additional 6,919 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Uniti Group in the second quarter valued at about $45,000. Osaic Holdings Inc. increased its position in Uniti Group by 20.6% during the second 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 during the period. Finally, American Century Companies Inc. bought a new position in Uniti Group during the first quarter worth about $65,000. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Stock Performance

NASDAQ:UNIT opened at $6.49 on Friday. Uniti Group has a 52-week low of $5.30 and a 52-week high of $12.62. The company has a market cap of $960.39 million, a P/E ratio of 1.27 and a beta of 1.52. The stock’s 50-day simple moving average is $6.17 and its 200 day simple moving average is $5.42.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). Uniti Group had a net margin of 97.46% and a negative return on equity of 1.71%. The company had revenue of $300.73 million for the quarter, compared to analyst estimates of $304.06 million. During the same period last year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts predict that Uniti Group will post 1.28 earnings per share for the current fiscal year.

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.