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

Shares of Uniti Group Inc. (NASDAQ:UNIT) have been assigned an average rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $10.9167.

A number of brokerages have recently weighed in on UNIT. JPMorgan Chase & Co. upped their target price on Uniti Group from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Barclays boosted their price target on Uniti Group from $8.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. TD Cowen boosted their price target on Uniti Group from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Raymond James Financial reissued a “strong-buy” rating and issued a $11.00 price target on shares of Uniti Group in a research note on Tuesday, March 3rd. Finally, Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd.

Uniti Group Price Performance

Shares of UNIT opened at $12.75 on Friday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 3.81 and a beta of 1.40. Uniti Group has a fifty-two week low of $5.30 and a fifty-two week high of $12.77. The business’s 50-day moving average is $11.28 and its 200-day moving average is $8.85.

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 company had revenue of $987.50 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 236.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. Equities research analysts expect that Uniti Group will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Uniti Group

Large investors have recently made changes to their positions in the company. KBC Group NV bought a new stake in shares of Uniti Group in the 1st quarter valued at approximately $43,000. Hilton Head Capital Partners LLC bought a new stake in shares of Uniti Group in the 4th quarter valued at approximately $40,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Uniti Group in the 4th quarter valued at approximately $72,000. Osaic Holdings Inc. grew its stake in shares of Uniti Group by 20.6% in the 2nd 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 in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Uniti Group in the 1st quarter valued at approximately $100,000. 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.