Uniti Group (NASDAQ:UNIT) Shares Down 5.4% – Time to Sell?

Uniti Group Inc. (NASDAQ:UNIT)’s stock price dropped 5.4% on Wednesday . The company traded as low as $11.77 and last traded at $11.63. Approximately 980,120 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 2,277,541 shares. The stock had previously closed at $12.30.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UNIT. Wells Fargo & Company upped their price target on Uniti Group from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada boosted their price objective on shares of Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a research report on Monday, April 13th. TD Cowen boosted their price objective on shares of Uniti Group from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of Uniti Group from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Uniti Group has an average rating of “Hold” and a consensus price target of $10.92.

Uniti Group Stock Down 5.3%

The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 3.49 and a beta of 1.40. The company’s 50-day simple moving average is $11.36 and its 200 day simple moving average is $8.96.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. The firm had revenue of $987.50 million for the quarter, compared to the consensus estimate of $930.08 million. Uniti Group had a net margin of 39.61% and a negative return on equity of 2.52%. The business’s quarterly revenue was up 236.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. On average, equities analysts expect that Uniti Group Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Uniti Group in the 4th quarter valued at $40,000. KBC Group NV acquired a new position in shares of Uniti Group in the 1st quarter valued at $43,000. Osaic Holdings Inc. raised its stake in shares of Uniti Group by 20.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,795 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Uniti Group in the 4th quarter valued at $72,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Uniti Group in the 3rd quarter valued at approximately $75,000. 87.51% of the stock is owned by institutional investors.

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.