Uniti Group (NASDAQ:UNIT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Uniti Group (NASDAQ:UNIT) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other research firms have also recently weighed in on UNIT. Wells Fargo & Company lowered their price target on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. began coverage on Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Finally, Barclays reaffirmed a “positive” rating and issued a $7.00 target price on shares of Uniti Group in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.86.

Uniti Group Stock Up 0.1%

Uniti Group stock opened at $7.51 on Friday. The company has a fifty day simple moving average of $6.87 and a 200-day simple moving average of $6.31. Uniti Group has a 52-week low of $5.30 and a 52-week high of $12.34. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 1.47 and a beta of 1.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in Uniti Group by 775.7% during the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 6,919 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Uniti Group during the 2nd quarter valued at $45,000. Osaic Holdings Inc. lifted its position in shares of Uniti Group by 20.6% in 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 in the last quarter. FNY Investment Advisers LLC purchased a new position in Uniti Group during the 3rd quarter valued at about $75,000. Finally, IFP Advisors Inc lifted its position in Uniti Group by 461.4% in the 3rd quarter. IFP Advisors Inc now owns 13,485 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 11,083 shares in the last quarter. 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 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.