Brokerages Set Uniti Group Inc. (NASDAQ:UNIT) Target Price at $6.70

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

Several research firms have recently issued reports on UNIT. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company lifted their price target 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, Zacks Research lowered shares of Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 10th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UNIT. Northern Trust Corp increased its stake in Uniti Group by 12.0% in the fourth quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust’s stock valued at $15,119,000 after purchasing an additional 295,104 shares during the period. Lazard Asset Management LLC increased its stake 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 worth $6,420,000 after acquiring an additional 469,078 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Uniti Group by 30.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,130,604 shares of the real estate investment trust’s stock worth $6,218,000 after acquiring an additional 260,740 shares during the period. Sona Asset Management US LLC increased its stake in shares of Uniti Group by 100.0% during the fourth 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 acquiring an additional 600,000 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Uniti Group during the fourth quarter worth about $98,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Stock Down 2.4%

Shares of UNIT stock opened at $6.94 on Friday. Uniti Group has a 52 week low of $5.68 and a 52 week high of $12.62. The stock has a market capitalization of $1.03 billion, a PE ratio of 25.22 and a beta of 1.51. The firm has a 50 day moving average of $5.98 and a two-hundred day moving average of $5.10.

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

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.