Uniti Group (NASDAQ:UNIT) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Uniti Group (NASDAQ:UNIT) from a hold rating to a sell rating in a report published on Saturday.

Several other research firms have also issued reports on UNIT. Citigroup restated a “neutral” rating and issued a $5.30 target price on shares of Uniti Group in a report on Friday, May 16th. Wells Fargo & Company boosted their target price on shares of Uniti Group from $4.50 to $7.50 and gave the company an “equal weight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Uniti Group has an average rating of “Hold” and an average price target of $6.70.

Uniti Group Stock Up 4.6%

UNIT stock opened at $6.64 on Friday. The firm has a market cap of $982.59 million, a price-to-earnings ratio of 24.13 and a beta of 1.47. Uniti Group has a 12-month low of $6.32 and a 12-month high of $12.62. The company’s fifty day simple moving average is $4.90 and its 200 day simple moving average is $4.94.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). The firm had revenue of $300.73 million during the quarter, compared to analyst estimates of $304.06 million. Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. Uniti Group’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. Research analysts expect that Uniti Group will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Uniti Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV bought a new stake in Uniti Group in the first quarter valued at $28,000. Allworth Financial LP increased its stake in Uniti Group by 775.7% in the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 6,919 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Uniti Group in the second quarter valued at $45,000. American Century Companies Inc. bought a new stake in Uniti Group in the first quarter valued at $65,000. Finally, Inspire Advisors LLC bought a new stake in Uniti Group in the first quarter valued at $66,000. 87.51% of the stock is owned by institutional investors.

Uniti Group Company Profile

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.