Uniti Group (NASDAQ:UNIT) Upgraded at Wall Street Zen

Uniti Group (NASDAQ:UNIT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

UNIT has been the subject of several other research reports. Weiss Ratings cut shares of Uniti Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Wells Fargo & Company lowered their target price on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Barclays initiated coverage on Uniti Group in a report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 price target for the company. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. started coverage on Uniti Group in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.55.

Uniti Group Stock Down 2.7%

UNIT stock opened at $6.39 on Friday. The company has a 50 day moving average of $6.07 and a two-hundred day moving average of $5.65. The company has a market cap of $945.59 million, a price-to-earnings ratio of 1.25 and a beta of 1.49. Uniti Group has a 12-month low of $5.30 and a 12-month high of $12.62.

Institutional Trading of Uniti Group

Several institutional investors have recently added to or reduced their stakes in UNIT. Allworth Financial LP grew its position in shares of Uniti Group by 775.7% during the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 6,919 shares in the last quarter. Park Avenue Securities LLC bought a new position in Uniti Group during the 2nd quarter worth $45,000. Osaic Holdings Inc. raised its holdings in Uniti Group by 20.6% in the 2nd 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. American Century Companies Inc. bought a new stake in shares of Uniti Group during the 1st quarter valued at $65,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Uniti Group during the 2nd quarter valued at $68,000. 87.51% of the stock is currently owned by institutional investors.

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.