Uniti Group (NASDAQ:UNIT) Lowered to “Sell” Rating by Wall Street Zen

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

UNIT has been the topic of several other reports. Wells Fargo & Company lowered their target price on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. JPMorgan Chase & Co. began coverage on shares of Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price target on the stock. Barclays set a $8.00 price objective on Uniti Group in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Uniti Group presently has an average rating of “Hold” and an average target price of $7.06.

Uniti Group Price Performance

Shares of NASDAQ:UNIT opened at $8.32 on Friday. The business has a fifty day moving average price of $7.11 and a two-hundred day moving average price of $6.49. The company has a market capitalization of $1.23 billion, a PE ratio of 1.63 and a beta of 1.45. Uniti Group has a 1 year low of $5.30 and a 1 year high of $12.34.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UNIT. Allworth Financial LP grew its position in shares of Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 6,919 shares during the period. Osaic Holdings Inc. raised its holdings in Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,795 shares during the last quarter. QRG Capital Management Inc. bought a new position in Uniti Group in the 2nd quarter valued at approximately $68,000. FNY Investment Advisers LLC bought a new position in shares of Uniti Group during the third quarter valued at $75,000. Finally, United Services Automobile Association bought a new position in Uniti Group during the 1st quarter valued at about $80,000. Institutional investors own 87.51% of the company’s stock.

About Uniti Group

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.