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

Uniti Group Inc. (NASDAQ:UNIT) has earned a consensus rating of “Hold” from the nine research firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.9167.

A number of brokerages have commented on UNIT. Weiss Ratings upgraded Uniti Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. UBS Group set a $12.00 price objective on Uniti Group in a research note on Tuesday, May 12th. TD Cowen boosted their price objective on Uniti Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada boosted their price objective on Uniti Group from $6.50 to $7.50 and gave the stock a “sector perform” rating in a research note on Monday, April 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its position in shares of Uniti Group by 12.5% during the fourth quarter. Mackenzie Financial Corp now owns 12,202 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 1,352 shares during the last quarter. Hilton Head Capital Partners LLC increased its position 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 worth $67,000 after acquiring an additional 1,494 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Uniti Group by 2.0% during the second quarter. Daiwa Securities Group Inc. now owns 84,017 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 1,629 shares during the last quarter. Osaic Holdings Inc. increased 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 worth $46,000 after acquiring an additional 1,795 shares during the last quarter. Finally, Xponance LLC increased its position in shares of Uniti Group by 17.3% during the fourth quarter. Xponance LLC now owns 13,169 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 1,944 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Trading Down 1.2%

Shares of Uniti Group stock opened at $10.67 on Wednesday. Uniti Group has a twelve month low of $5.30 and a twelve month high of $12.39. The stock has a market capitalization of $2.59 billion, a P/E ratio of 3.19 and a beta of 1.44. The business’s fifty day moving average price is $10.07 and its 200 day moving average price is $8.21.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $987.50 million for the quarter, compared to analysts’ expectations of $930.08 million. Uniti Group had a negative return on equity of 2.52% and a net margin of 39.61%.The firm’s revenue for the quarter was up 236.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, sell-side analysts predict that Uniti Group will post -1.75 EPS for the current year.

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.