Uniti Group Inc. (NASDAQ:UNIT) Receives Average Recommendation of “Hold” from Analysts

Shares of Uniti Group Inc. (NASDAQ:UNIT) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.9167.

A number of equities research analysts have issued reports on UNIT shares. Barclays upped their target price on Uniti Group from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Citigroup upped their target price on Uniti Group from $9.00 to $11.75 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Wells Fargo & Company upped their target price on Uniti Group from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada upped their target price on Uniti Group from $6.50 to $7.50 and gave the stock a “sector perform” rating in a research report on Monday, April 13th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research report on Tuesday, March 3rd.

Institutional Investors Weigh In On Uniti Group

Hedge funds have recently modified their holdings of the business. Hilton Head Capital Partners LLC bought a new stake in shares of Uniti Group in the fourth quarter valued at approximately $40,000. KBC Group NV bought a new stake in shares of Uniti Group in the first quarter valued at approximately $43,000. Osaic Holdings Inc. boosted its position 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 acquiring an additional 1,795 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Uniti Group in the fourth quarter valued at approximately $72,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Uniti Group in the third quarter valued at approximately $75,000. 87.51% of the stock is owned by institutional investors.

Uniti Group Stock Up 1.8%

Shares of Uniti Group stock opened at $12.75 on Friday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 3.81 and a beta of 1.40. The stock has a 50 day moving average price of $11.28 and a two-hundred day moving average price of $8.85. Uniti Group has a 12-month low of $5.30 and a 12-month high of $12.77.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $987.50 million during 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 company’s revenue was up 236.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. Sell-side analysts anticipate that Uniti Group will post -1.56 earnings per share 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.