Uniti Group Inc. (NASDAQ:UNIT) Receives $10.92 Consensus Target Price from Analysts

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

Several equities research analysts have recently issued reports on the company. UBS Group set a $12.00 target price on Uniti Group in a research report on Tuesday, May 12th. Barclays boosted their price target on shares of Uniti Group from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. reduced their price target on shares of Uniti Group from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Finally, TD Cowen lowered their price objective on shares of Uniti Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 31st.

Uniti Group Trading Down 3.6%

Shares of UNIT opened at $9.69 on Monday. The stock has a 50 day moving average of $11.13 and a 200 day moving average of $9.93. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 3.58 and a beta of 1.40. Uniti Group has a 12 month low of $5.30 and a 12 month high of $12.94.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data 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). Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%.The business had revenue of $909.70 million during the quarter, compared to analysts’ expectations of $884.82 million. As a group, equities research analysts predict that Uniti Group will post -1.65 earnings per share for the current year.

Institutional Investors Weigh In On Uniti Group

Large investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new position in Uniti Group in the fourth quarter valued at approximately $40,000. KBC Group NV purchased a new stake in Uniti Group in the first quarter worth $43,000. Osaic Holdings Inc. increased its position 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. Mercer Global Advisors Inc. ADV bought a new stake in shares of Uniti Group in the fourth quarter valued at $72,000. Finally, Cibc World Markets Corp bought a new stake in shares of Uniti Group in the fourth quarter valued at $78,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Company Profile

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.