Uniti Group (NASDAQ:UNIT) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. assumed coverage on shares of Uniti Group (NASDAQ:UNIT) in a report issued on Thursday. The brokerage set a “neutral” rating and a $7.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 26.13% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Uniti Group in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price objective on shares of Uniti Group from $4.50 to $7.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Finally, Barclays started coverage on shares of Uniti Group in a research note on Friday, October 3rd. They set an “equal weight” rating and a $6.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.63.

Uniti Group Price Performance

NASDAQ UNIT opened at $5.55 on Thursday. Uniti Group has a 12 month low of $5.30 and a 12 month high of $12.62. The firm has a market capitalization of $821.29 million, a PE ratio of 20.17 and a beta of 1.56. The company’s 50 day simple moving average is $6.24 and its 200 day simple moving average is $5.28.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The company had revenue of $300.73 million for the quarter, compared to analyst estimates of $304.06 million. Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. Uniti Group’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. Uniti Group has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Uniti Group will post 1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UNIT. Allspring Global Investments Holdings LLC raised its holdings in Uniti Group by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 32,531 shares of the real estate investment trust’s stock worth $170,000 after acquiring an additional 11,395 shares during the period. Panagora Asset Management Inc. raised its holdings in Uniti Group by 287.9% in the 1st quarter. Panagora Asset Management Inc. now owns 318,066 shares of the real estate investment trust’s stock worth $1,603,000 after acquiring an additional 236,061 shares during the period. Vanguard Group Inc. raised its holdings in Uniti Group by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust’s stock worth $186,464,000 after acquiring an additional 151,070 shares during the period. Nuveen LLC acquired a new stake in Uniti Group in the 1st quarter worth $6,158,000. Finally, Russell Investments Group Ltd. grew its position in Uniti Group by 457.8% in the 1st quarter. Russell Investments Group Ltd. now owns 127,265 shares of the real estate investment trust’s stock worth $641,000 after purchasing an additional 104,451 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Company Profile

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.