Analysts Set Uniti Group Inc. (NASDAQ:UNIT) Price Target at $6.56

Shares of Uniti Group Inc. (NASDAQ:UNIT) have earned an average rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.56.

A number of research firms recently weighed in on UNIT. Zacks Research lowered shares of Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 10th. Barclays began coverage on shares of Uniti Group in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Uniti Group in a research note on Wednesday. Wells Fargo & Company upped 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, Wall Street Zen lowered shares of Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th.

Institutional Trading of Uniti Group

Hedge funds have recently modified their holdings of the company. KBC Group NV purchased a new stake in shares of Uniti Group during the first quarter valued at about $28,000. Allworth Financial LP lifted its position in shares of Uniti Group by 775.7% during the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 6,919 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Uniti Group during the second quarter valued at about $45,000. Osaic Holdings Inc. increased its holdings in shares of Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,795 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Uniti Group during the first quarter valued at about $65,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Trading Down 1.5%

NASDAQ UNIT opened at $6.04 on Tuesday. The company’s 50-day moving average price is $6.45 and its 200-day moving average price is $5.24. The stock has a market cap of $893.80 million, a PE ratio of 21.95 and a beta of 1.56. Uniti Group has a 12 month low of $5.66 and a 12 month high of $12.62.

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 for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The business had revenue of $300.73 million during the quarter, compared to analysts’ expectations of $304.06 million. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Uniti Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Uniti Group will post 1.28 earnings per share for the current year.

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.