Uniti Group Inc. (NASDAQ:UNIT) Given Average Rating of “Hold” by Analysts

Shares of Uniti Group Inc. (NASDAQ:UNIT) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $8.9167.

A number of brokerages have recently weighed in on UNIT. Royal Bank Of Canada boosted their price target on Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a report on Monday, April 13th. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Citigroup boosted their price target on Uniti Group from $8.80 to $9.00 and gave the company a “neutral” rating in a report on Monday, March 9th. Wells Fargo & Company boosted their price target on Uniti Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th.

Institutional Trading of Uniti Group

Several institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new stake in shares of Uniti Group in the first quarter valued at $746,000. Hilton Head Capital Partners LLC lifted its holdings in shares of Uniti Group by 26.2% during the first quarter. Hilton Head Capital Partners LLC now owns 7,195 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 1,494 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Uniti Group by 103.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 14,656,558 shares of the real estate investment trust’s stock valued at $102,743,000 after purchasing an additional 7,441,044 shares during the last quarter. TMB Capital Partners LLC purchased a new stake in shares of Uniti Group during the fourth quarter valued at $185,000. Finally, Invesco Ltd. lifted its holdings in shares of Uniti Group by 32.8% during the fourth quarter. Invesco Ltd. now owns 1,829,904 shares of the real estate investment trust’s stock valued at $12,828,000 after purchasing an additional 452,149 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Stock Up 2.0%

UNIT stock opened at $11.98 on Friday. Uniti Group has a 52-week low of $5.30 and a 52-week high of $12.18. The stock’s 50 day moving average is $9.08 and its two-hundred day moving average is $7.60. The company has a market capitalization of $2.91 billion, a PE ratio of 3.18 and a beta of 1.33.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.73). Uniti Group had a negative return on equity of 2.52% and a net margin of 55.60%.The business had revenue of $917.20 million for the quarter, compared to analysts’ expectations of $909.44 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Uniti Group’s revenue for the quarter was up 212.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Uniti Group will post -1.66 EPS for the current year.

Uniti Group Company Profile

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.