Uniti Group Inc. (NASDAQ:UNIT) Receives Average Rating of “Hold” from Brokerages

Shares of Uniti Group Inc. (NASDAQ:UNIT) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $6.56.

UNIT has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on Uniti Group from $4.50 to $7.50 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Uniti Group in a research report on Saturday, September 27th. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Zacks Research lowered shares of Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 10th. Finally, Barclays began coverage on shares of Uniti Group in a report on Friday. They issued an “equal weight” rating and a $6.00 target price for the company.

Hedge Funds Weigh In On Uniti Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV purchased a new stake in Uniti Group during the 1st quarter valued at $28,000. Allworth Financial LP lifted its holdings in shares of Uniti Group by 775.7% during 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 purchased a new stake in shares of Uniti Group during the second quarter valued at $45,000. Osaic Holdings Inc. boosted its position in shares of Uniti Group by 20.6% during the second 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 during the last quarter. Finally, American Century Companies Inc. bought a new stake in Uniti Group in the 1st quarter worth about $65,000. 87.51% of the stock is owned by institutional investors.

Uniti Group Stock Performance

Shares of UNIT opened at $6.11 on Tuesday. Uniti Group has a fifty-two week low of $5.66 and a fifty-two week high of $12.62. The firm’s 50-day simple moving average is $6.42 and its two-hundred day simple moving average is $5.23. The stock has a market cap of $904.16 million, a PE ratio of 22.21 and a beta of 1.56.

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 business had revenue of $300.73 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. Uniti Group has set its FY 2025 guidance at EPS. Equities research analysts predict that Uniti Group will post 1.28 EPS for the current year.

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.