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

Shares of Uniti Group Inc. (NASDAQ:UNIT) have earned an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.1389.

A number of research analysts have issued reports on UNIT shares. JPMorgan Chase & Co. upped their target price on shares of Uniti Group from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. TD Cowen lifted their price target on shares of Uniti Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Williams Trading set a $12.00 price target on shares of Uniti Group in a research note on Tuesday, May 12th. UBS Group set a $12.00 price objective on shares of Uniti Group in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada raised their price objective on shares of Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a research note on Monday, April 13th.

Uniti Group Stock Performance

NASDAQ UNIT opened at $10.90 on Thursday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 3.25 and a beta of 1.40. Uniti Group has a 52 week low of $5.30 and a 52 week high of $12.94. The stock has a fifty day moving average of $11.37 and a 200-day moving average of $9.46.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $987.50 million for the quarter, compared to analyst estimates of $930.08 million. The company’s revenue was up 236.0% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Equities research analysts forecast that Uniti Group will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Uniti Group

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Uniti Group by 10.1% in the first quarter. Royal Bank of Canada now owns 198,000 shares of the real estate investment trust’s stock valued at $998,000 after buying an additional 18,165 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Uniti Group during the first quarter worth about $161,000. Goldman Sachs Group Inc. grew its position in shares of Uniti Group by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after buying an additional 877,911 shares during the period. United Services Automobile Association bought a new stake in shares of Uniti Group in the 1st quarter valued at about $80,000. Finally, Franklin Resources Inc. increased its stake in shares of Uniti Group by 40.9% in the 2nd quarter. Franklin Resources Inc. now owns 50,586 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 14,696 shares during the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

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.