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

Uniti Group (NASDAQ:UNIT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

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

Uniti Group Stock Down 1.1%

UNIT opened at $7.12 on Friday. Uniti Group has a twelve month low of $5.30 and a twelve month high of $12.34. The company’s 50-day moving average price is $6.29 and its two-hundred day moving average price is $5.83. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 1.39 and a beta of 1.49.

Hedge Funds Weigh In On Uniti Group

A number of large investors have recently modified their holdings of the company. Panagora Asset Management Inc. boosted its holdings in Uniti Group by 287.9% in the 1st quarter. Panagora Asset Management Inc. now owns 318,066 shares of the real estate investment trust’s stock valued at $1,603,000 after purchasing an additional 236,061 shares during the period. Nuveen LLC purchased a new stake in shares of Uniti Group in the first quarter worth $6,158,000. Russell Investments Group Ltd. raised its position in shares of Uniti Group by 457.8% in the first quarter. Russell Investments Group Ltd. now owns 127,265 shares of the real estate investment trust’s stock worth $641,000 after buying an additional 104,451 shares in the last quarter. Intech Investment Management LLC boosted its stake in Uniti Group by 20.0% during the first quarter. Intech Investment Management LLC now owns 731,267 shares of the real estate investment trust’s stock valued at $3,686,000 after buying an additional 122,029 shares during the period. Finally, Jump Financial LLC purchased a new position in Uniti Group during the first quarter worth about $383,000. 87.51% of the stock is currently owned by institutional investors.

About Uniti Group

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.