Uniti Group (NASDAQ:UNIT) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Uniti Group (NASDAQ:UNIT) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other research analysts have also recently commented on the stock. Barclays began coverage on shares of Uniti Group in a report on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 target price for the company. Weiss Ratings upgraded shares of Uniti Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. initiated coverage on Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 target price for the company. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company reduced their price objective on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Uniti Group presently has a consensus rating of “Hold” and a consensus price target of $6.55.

Uniti Group Stock Up 1.9%

Shares of Uniti Group stock opened at $5.97 on Friday. 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 $883.44 million, a PE ratio of 1.17 and a beta of 1.52. The stock’s fifty day moving average is $6.10 and its 200-day moving average is $5.53.

Institutional Investors Weigh In On Uniti Group

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of Uniti Group by 775.7% in the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 6,919 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Uniti Group in the 2nd quarter worth approximately $45,000. Osaic Holdings Inc. grew its holdings in 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 purchasing an additional 1,795 shares during the last quarter. American Century Companies Inc. bought a new position in shares of Uniti Group in the first quarter valued at approximately $65,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Uniti Group in the first quarter worth $66,000. 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.