Uniti Group (NASDAQ:UNIT) Price Target Cut to $11.00 by Analysts at JPMorgan Chase & Co.

Uniti Group (NASDAQ:UNITGet Free Report) had its price objective decreased by analysts at JPMorgan Chase & Co. from $12.00 to $11.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 13.11% from the stock’s previous close.

A number of other brokerages also recently issued reports on UNIT. Wells Fargo & Company upped their price objective on shares of Uniti Group from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Williams Trading set a $12.00 target price on shares of Uniti Group in a research report on Tuesday, May 12th. Barclays lifted their target price on shares of Uniti Group from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. TD Cowen cut their target price on Uniti Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Royal Bank Of Canada upped their target price on Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.92.

View Our Latest Analysis on Uniti Group

Uniti Group Stock Performance

UNIT traded up $0.43 during mid-day trading on Friday, reaching $9.72. 2,151,820 shares of the stock were exchanged, compared to its average volume of 2,355,527. The stock has a market capitalization of $2.36 billion, a PE ratio of 2.91 and a beta of 1.40. The company has a 50 day moving average price of $11.24 and a two-hundred day moving average price of $9.88. Uniti Group has a 1 year low of $5.30 and a 1 year high of $12.94.

Uniti Group (NASDAQ:UNITGet Free Report) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.25). The firm had revenue of $909.70 million for the quarter, compared to analysts’ expectations of $884.82 million. Sell-side analysts expect that Uniti Group will post -1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Uniti Group

Several institutional investors have recently added to or reduced their stakes in UNIT. KBC Group NV purchased a new position in shares of Uniti Group in the first quarter worth about $43,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Uniti Group during the 4th quarter valued at approximately $40,000. Mercer Global Advisors Inc. ADV bought a new position in Uniti Group in the 4th quarter worth approximately $72,000. Osaic Holdings Inc. boosted its holdings in 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 worth $46,000 after buying an additional 1,795 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Uniti Group in the 1st quarter worth approximately $100,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Company Profile

(Get Free Report)

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.

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