Brokerages Set Uniti Group Inc (UNIT) Target Price at $25.80

Shares of Uniti Group Inc (NASDAQ:UNIT) have received a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $25.80.

A number of equities analysts recently issued reports on UNIT shares. BidaskClub cut shares of Uniti Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 16th. ValuEngine cut shares of Uniti Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 27th. Zacks Investment Research cut shares of Uniti Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Citigroup cut shares of Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price objective for the company. in a research report on Wednesday, July 18th. Finally, Cowen set a $28.00 price objective on shares of Uniti Group and gave the stock a “buy” rating in a research report on Saturday, August 11th.

A number of hedge funds and other institutional investors have recently made changes to their positions in UNIT. Northern Trust Corp increased its position in Uniti Group by 2.2% in the 1st quarter. Northern Trust Corp now owns 1,317,989 shares of the real estate investment trust’s stock valued at $21,418,000 after acquiring an additional 27,894 shares during the period. Federated Investors Inc. PA increased its position in Uniti Group by 48.4% in the 1st quarter. Federated Investors Inc. PA now owns 70,868 shares of the real estate investment trust’s stock valued at $1,152,000 after acquiring an additional 23,123 shares during the period. Great West Life Assurance Co. Can increased its position in Uniti Group by 6.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 101,932 shares of the real estate investment trust’s stock valued at $1,657,000 after acquiring an additional 6,177 shares during the period. California Public Employees Retirement System increased its position in Uniti Group by 4.6% in the 1st quarter. California Public Employees Retirement System now owns 256,581 shares of the real estate investment trust’s stock valued at $4,169,000 after acquiring an additional 11,201 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Uniti Group by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,150,605 shares of the real estate investment trust’s stock valued at $34,947,000 after acquiring an additional 144,292 shares during the period. Hedge funds and other institutional investors own 71.33% of the company’s stock.

UNIT stock opened at $19.01 on Wednesday. The company has a market cap of $3.54 billion, a P/E ratio of 7.62, a P/E/G ratio of 0.93 and a beta of 0.77. Uniti Group has a 1 year low of $13.94 and a 1 year high of $23.42. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of -0.04.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.65). The company had revenue of $247.30 million for the quarter, compared to analyst estimates of $250.07 million. Uniti Group had a negative return on equity of 1.45% and a net margin of 1.83%. Uniti Group’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, research analysts expect that Uniti Group will post 2.48 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 12.62%. The ex-dividend date of this dividend is Thursday, September 27th. Uniti Group’s dividend payout ratio (DPR) is currently 95.62%.

Uniti Group Company Profile

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.

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Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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