UNIT has been the subject of several other research reports. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Citigroup set a $68.00 price objective on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, March 19th. Zacks Investment Research cut shares of Horiba from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, Deutsche Bank decreased their target price on shares of Uniti Group from $20.00 to $8.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Six investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.50.
Shares of NASDAQ:UNIT traded up $0.20 during trading hours on Tuesday, hitting $9.26. 5,233,459 shares of the company’s stock traded hands, compared to its average volume of 4,304,951. Uniti Group has a 52 week low of $8.06 and a 52 week high of $21.89. The company’s fifty day simple moving average is $10.09. The stock has a market cap of $1.71 billion, a P/E ratio of 3.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.03.
Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.54). Uniti Group had a net margin of 1.16% and a negative return on equity of 0.82%. The business had revenue of $261.03 million for the quarter, compared to the consensus estimate of $270.25 million. On average, equities research analysts anticipate that Uniti Group will post 2.22 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. First Allied Advisory Services Inc. boosted its holdings in shares of Uniti Group by 5.7% in the fourth quarter. First Allied Advisory Services Inc. now owns 13,598 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 728 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Uniti Group by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 32,789 shares of the real estate investment trust’s stock worth $510,000 after purchasing an additional 910 shares in the last quarter. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Uniti Group in the first quarter worth approximately $89,000. Metropolitan Life Insurance Co. NY lifted its position in shares of Uniti Group by 2.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 50,968 shares of the real estate investment trust’s stock worth $794,000 after purchasing an additional 1,093 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of Uniti Group by 5.3% in the first quarter. Raymond James Trust N.A. now owns 23,423 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 1,180 shares in the last quarter. Institutional investors own 79.34% of the company’s stock.
About Uniti Group
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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
Further Reading: Overbought
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