Uniti Group Inc. (NASDAQ:UNIT – Get Free Report)’s share price gapped up before the market opened on Monday. The stock had previously closed at $5.07, but opened at $5.25. Uniti Group shares last traded at $4.9350, with a volume of 69,148 shares.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on UNIT shares. Weiss Ratings downgraded Uniti Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 14th. Barclays raised their price objective on Uniti Group from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. reduced their price objective on Uniti Group from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Raymond James Financial set a $16.00 target price on Uniti Group and gave the stock a “strong-buy” rating in a research report on Tuesday, September 29th. Finally, TD Cowen decreased their target price on Uniti Group from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Uniti Group currently has an average rating of “Hold” and a consensus price target of $11.47.
Get Our Latest Research Report on UNIT
Uniti Group Stock Performance
The company’s fifty day moving average price is $8.64 and its 200 day moving average price is $10.20. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 1.85 and a beta of 1.42.
Uniti Group (NASDAQ:UNIT – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.23). The company had revenue of $909.70 million for the quarter, compared to analyst estimates of $884.82 million. Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. As a group, sell-side analysts expect that Uniti Group Inc. will post -2.01 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of UNIT. Fifth Third Wealth Advisors LLC acquired a new position in Uniti Group during the 3rd quarter worth $109,000. Sterling Capital Management LLC increased its holdings in shares of Uniti Group by 237.5% during the third quarter. Sterling Capital Management LLC now owns 4,934 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 3,472 shares during the period. Axxcess Wealth Management LLC acquired a new position in shares of Uniti Group during the third quarter valued at $92,000. Pinnacle Associates Ltd. raised its stake in shares of Uniti Group by 4.2% during the third quarter. Pinnacle Associates Ltd. now owns 712,211 shares of the real estate investment trust’s stock valued at $5,968,000 after purchasing an additional 28,411 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of Uniti Group during the third quarter valued at about $87,000. 87.51% of the stock is owned by institutional investors and hedge funds.
About Uniti Group
Uniti Group Inc is a communications infrastructure company that owns, operates and acquires critical network assets used by telecommunications providers and other customers. Its portfolio primarily includes fiber-optic networks, wireless towers, small-cell infrastructure and related real estate. Uniti generally leases this infrastructure to communications companies under long-term agreements.
The company’s fiber network supports services such as broadband, data transmission, wireless backhaul and enterprise connectivity.
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