Raymond James Lowers Uniti Group (NASDAQ:UNIT) to Outperform

Uniti Group (NASDAQ:UNIT) was downgraded by equities research analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports. They presently have a $6.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $8.00. Raymond James’ target price points to a potential upside of 54.64% from the company’s previous close.

A number of other research analysts also recently weighed in on UNIT. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.50 target price on shares of Uniti Group in a report on Monday, March 25th. TD Cowen increased their price objective on shares of Uniti Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

Uniti Group Trading Up 2.1 %

Shares of UNIT opened at $3.88 on Monday. The firm has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $5.50. The firm has a market cap of $932.09 million, a PE ratio of 64.68 and a beta of 1.40. Uniti Group has a 1-year low of $3.39 and a 1-year high of $6.71.

Institutional Investors Weigh In On Uniti Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNIT. GAMMA Investing LLC purchased a new position in Uniti Group in the 4th quarter worth approximately $31,000. KPP Advisory Services LLC purchased a new position in shares of Uniti Group in the third quarter worth $48,000. Regent Peak Wealth Advisors LLC bought a new position in shares of Uniti Group during the fourth quarter worth $69,000. Park Avenue Securities LLC purchased a new position in Uniti Group during the third quarter valued at $59,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Uniti Group in the 4th quarter valued at $85,000. Institutional investors own 87.51% of the company’s stock.

About Uniti Group

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.