Uniti Group (NASDAQ:UNIT) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. began coverage on shares of Uniti Group (NASDAQ:UNIT) in a report issued on Thursday. The brokerage set a “neutral” rating and a $7.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 26.13% from the company’s current price.

A number of other research firms have also issued reports on UNIT. Barclays initiated coverage on Uniti Group in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 target price on the stock. Wells Fargo & Company upped their target price on Uniti Group from $4.50 to $7.50 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Wall Street Zen downgraded Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Uniti Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Uniti Group currently has a consensus rating of “Hold” and a consensus target price of $6.63.

Uniti Group Price Performance

Shares of NASDAQ:UNIT opened at $5.55 on Thursday. The business’s 50 day simple moving average is $6.24 and its 200-day simple moving average is $5.28. The firm has a market capitalization of $821.29 million, a price-to-earnings ratio of 20.17 and a beta of 1.56. Uniti Group has a 12 month low of $5.30 and a 12 month high of $12.62.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). The firm had revenue of $300.73 million for the quarter, compared to analysts’ expectations of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.Uniti Group’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. Uniti Group has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Uniti Group will post 1.28 earnings per share for the current year.

Hedge Funds Weigh In On Uniti Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Savant Capital LLC lifted its position in shares of Uniti Group by 2.6% during the second quarter. Savant Capital LLC now owns 63,592 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 1,601 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Uniti Group by 2.0% in the second quarter. Daiwa Securities Group Inc. now owns 84,017 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 1,629 shares during the period. Osaic Holdings Inc. increased its stake in shares of 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 valued at $46,000 after purchasing an additional 1,795 shares during the period. Journey Strategic Wealth LLC increased its stake in shares of Uniti Group by 11.1% in the second quarter. Journey Strategic Wealth LLC now owns 19,236 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 1,924 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of Uniti Group by 12.1% in the second quarter. Neuberger Berman Group LLC now owns 35,156 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 3,806 shares during the period. 87.51% of the stock is owned by hedge funds and other institutional investors.

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.