Citigroup Reiterates Neutral Rating for Uniti Group (NASDAQ:UNIT)

Uniti Group (NASDAQ:UNIT)‘s stock had its “neutral” rating restated by equities research analysts at Citigroup in a report released on Friday, MarketBeat reports. They currently have a $5.30 price objective on the real estate investment trust’s stock. Citigroup’s price target points to a potential upside of 14.22% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Raymond James raised Uniti Group from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $6.00 to $8.00 in a report on Monday, February 24th. Wells Fargo & Company decreased their price target on Uniti Group from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th.

Uniti Group Trading Down 4.3%

Shares of UNIT opened at $4.64 on Friday. Uniti Group has a 1 year low of $2.57 and a 1 year high of $6.31. The stock has a 50 day simple moving average of $4.75 and a 200-day simple moving average of $5.33. The stock has a market cap of $1.14 billion, a PE ratio of 11.32 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The business had revenue of $293.91 million during the quarter, compared to analysts’ expectations of $295.39 million. During the same period in the prior year, the firm posted $0.32 EPS. Uniti Group’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that Uniti Group will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Uniti Group

A number of large investors have recently bought and sold shares of UNIT. Franklin Resources Inc. grew its position in Uniti Group by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock worth $572,000 after acquiring an additional 2,328 shares during the last quarter. Ballentine Partners LLC boosted its position in Uniti Group by 35.1% in the 4th quarter. Ballentine Partners LLC now owns 15,257 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 3,966 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Uniti Group by 8.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 160,311 shares of the real estate investment trust’s stock valued at $882,000 after buying an additional 13,135 shares during the last quarter. Inspire Investing LLC boosted its position in Uniti Group by 3.6% in the 4th quarter. Inspire Investing LLC now owns 73,651 shares of the real estate investment trust’s stock valued at $405,000 after buying an additional 2,563 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Uniti Group by 30.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,929,472 shares of the real estate investment trust’s stock valued at $10,612,000 after buying an additional 446,168 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

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.