Analysts Set Uniti Group Inc. (NASDAQ:UNIT) PT at $10.92

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

A number of equities analysts have weighed in on UNIT shares. TD Cowen decreased their price target on Uniti Group from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, July 31st. UBS Group set a $12.00 price objective on shares of Uniti Group in a research note on Tuesday, May 12th. Barclays boosted their target price on shares of Uniti Group from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Finally, Williams Trading set a $12.00 price target on shares of Uniti Group in a report on Tuesday, May 12th.

Hedge Funds Weigh In On Uniti Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNIT. Vanguard Group Inc. increased its position in shares of Uniti Group by 38.9% during the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock worth $162,651,000 after acquiring an additional 6,494,001 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Uniti Group by 103.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 14,656,558 shares of the real estate investment trust’s stock worth $102,743,000 after acquiring an additional 7,441,044 shares in the last quarter. State Street Corp boosted its holdings in Uniti Group by 7.9% in the fourth quarter. State Street Corp now owns 7,116,934 shares of the real estate investment trust’s stock valued at $49,890,000 after purchasing an additional 523,054 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Uniti Group by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after purchasing an additional 877,911 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Uniti Group by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 4,352,729 shares of the real estate investment trust’s stock valued at $30,518,000 after purchasing an additional 323,845 shares in the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Price Performance

NASDAQ:UNIT opened at $9.54 on Monday. The business’s 50-day moving average is $11.06 and its two-hundred day moving average is $9.95. Uniti Group has a 12 month low of $5.30 and a 12 month high of $12.94. The firm has a market capitalization of $2.32 billion, a PE ratio of 3.52 and a beta of 1.40.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.23). The company had revenue of $909.70 million during the quarter, compared to analyst estimates of $884.82 million. Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. Equities analysts anticipate that Uniti Group will post -1.65 EPS for the current year.

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.