Uniti Group Inc. (NASDAQ:UNIT) Stock Has Consensus Target Price of $11.47 According to Analysts

Shares of Uniti Group Inc. (NASDAQ:UNIT) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $11.47.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Uniti Group from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. TD Cowen cut their price objective on Uniti Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Raymond James Financial set a $16.00 price objective on Uniti Group and gave the company a “strong-buy” rating in a research note on Tuesday, September 29th. Barclays boosted their target price on Uniti Group from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings lowered Uniti Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday.

Uniti Group Stock Performance

Uniti Group stock opened at $5.60 on Friday. The stock’s fifty day moving average is $9.07 and its two-hundred day moving average is $10.35. Uniti Group has a fifty-two week low of $5.45 and a fifty-two week high of $12.94. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 2.07 and a beta of 1.42.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.23). The company had revenue of $909.70 million for the quarter, compared to analysts’ expectations of $884.82 million. Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%. As a group, sell-side analysts forecast that Uniti Group will post -2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UNIT. Fortitude Family Office LLC boosted its position in shares of Uniti Group by 7,156.7% during the third quarter. Fortitude Family Office LLC now owns 4,354 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 4,294 shares during the period. KBC Group NV purchased a new position in Uniti Group in the 1st quarter worth about $43,000. Hilton Head Capital Partners LLC raised 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 acquiring an additional 1,494 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Uniti Group in the second quarter valued at $95,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Uniti Group by 1,579.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,802 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 8,278 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

About Uniti Group

Uniti Group Inc is a communications infrastructure company that owns, operates and leases fiber-optic networks, wireless infrastructure and other telecommunications real estate. Its assets support broadband providers, wireless carriers, enterprises, government organizations and other communications customers.

The company’s services and infrastructure include dark-fiber leasing, lit fiber transport, network backhaul, fiber-to-the-tower connections, small-cell infrastructure, wireless towers and related colocation or real estate arrangements.