Uniti Group (NASDAQ:UNIT) Upgraded to “Hold” 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 note published on Saturday morning.

A number of other analysts have also recently weighed in on UNIT. Barclays began coverage on shares of Uniti Group in a report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 price objective on the stock. Weiss Ratings downgraded shares of Uniti Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 1st. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. started coverage on Uniti Group in a report on Thursday, October 23rd. They set a “neutral” rating and a $7.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.55.

Uniti Group Stock Performance

UNIT opened at $6.39 on Friday. Uniti Group has a one year low of $5.30 and a one year high of $12.62. The company has a market cap of $945.59 million, a P/E ratio of 1.25 and a beta of 1.49. The business’s 50-day simple moving average is $6.07 and its 200-day simple moving average is $5.65.

Hedge Funds Weigh In On Uniti Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. boosted its position in shares of Uniti Group by 287.9% during the 1st quarter. Panagora Asset Management Inc. now owns 318,066 shares of the real estate investment trust’s stock worth $1,603,000 after purchasing an additional 236,061 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Uniti Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust’s stock valued at $186,464,000 after purchasing an additional 151,070 shares during the period. Nuveen LLC purchased a new stake in Uniti Group during the first quarter worth about $6,158,000. Russell Investments Group Ltd. boosted its holdings in Uniti Group by 457.8% during the first quarter. Russell Investments Group Ltd. now owns 127,265 shares of the real estate investment trust’s stock worth $641,000 after buying an additional 104,451 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Uniti Group by 20.0% in the first quarter. Intech Investment Management LLC now owns 731,267 shares of the real estate investment trust’s stock valued at $3,686,000 after buying an additional 122,029 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

About Uniti Group

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.