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

Shares of Uniti Group Inc. (NASDAQ:UNIT) have been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.70.

A number of research analysts recently commented on UNIT shares. Zacks Research lowered shares of Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 10th. Wall Street Zen downgraded Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company lifted their target price on Uniti Group from $4.50 to $7.50 and gave the stock an “equal weight” rating in a report on Thursday, August 7th.

Uniti Group Trading Up 4.1%

NASDAQ UNIT opened at $6.88 on Friday. The company has a 50-day moving average price of $6.16 and a two-hundred day moving average price of $5.13. Uniti Group has a 52 week low of $5.68 and a 52 week high of $12.62. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 25.01 and a beta of 1.50.

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

Institutional Investors Weigh In On Uniti Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its holdings in shares of Uniti Group by 12.0% in the 4th quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust’s stock worth $15,119,000 after acquiring an additional 295,104 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Uniti Group by 67.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,167,553 shares of the real estate investment trust’s stock valued at $6,420,000 after purchasing an additional 469,078 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Uniti Group by 30.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,130,604 shares of the real estate investment trust’s stock valued at $6,218,000 after purchasing an additional 260,740 shares during the period. Sona Asset Management US LLC increased its stake in Uniti Group by 100.0% in the 4th quarter. Sona Asset Management US LLC now owns 1,200,000 shares of the real estate investment trust’s stock worth $6,600,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Uniti Group in the 4th quarter worth about $98,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

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.