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

Shares of Uniti Group Inc. (NASDAQ:UNIT) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.9167.

UNIT has been the subject of several analyst reports. Citigroup lifted their price objective on shares of Uniti Group from $9.00 to $11.75 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. Barclays raised their target price on Uniti Group from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. Wells Fargo & Company boosted their target price on Uniti Group from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. TD Cowen decreased their target price on Uniti Group from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Uniti Group in a research note on Wednesday, August 19th.

Uniti Group Trading Up 3.2%

NASDAQ UNIT opened at $10.17 on Friday. Uniti Group has a 1-year low of $5.30 and a 1-year high of $12.94. The firm’s fifty day simple moving average is $10.37 and its 200-day simple moving average is $10.24. The company has a market capitalization of $2.47 billion, a PE ratio of 3.75 and a beta of 1.39.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.23). Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. The firm had revenue of $909.70 million for the quarter, compared to analyst estimates of $884.82 million. As a group, analysts predict that Uniti Group will post -2.09 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC acquired a new position in Uniti Group during the 4th quarter valued at $40,000. KBC Group NV acquired a new stake in Uniti Group during the first quarter worth about $43,000. Osaic Holdings Inc. increased its stake in Uniti Group by 20.6% during 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 position in Uniti Group during the fourth quarter valued at about $72,000. Finally, Cibc World Markets Corp acquired a new position in Uniti Group in the 4th quarter valued at approximately $78,000. 87.51% of the stock is owned by institutional investors.

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.